Late Friday night a bill was passed in the US Congress to curb gambling over the Internet. There is no mention, in the bill, that gambling fans who play at these online casinos be prosecuted for placing bets or playing poker online. In fact, the new anti-gambling bill does not apply to gamblers at all other than to cause more difficulty in funding online betting and poker accounts. Operators will be the most hard-hit by this new legislation.
Gambling online will also be the focus this week in London regarding third payment processors. ‘The passage of this legislation has had me working non-stop to get geared up for this battle. Hopefully the collective legal minds at the meeting in London, as well as counsel for other interested parties, can launch a attack and/or approach to adaptation to the regulations,’ said one attorney who represents a major payment processor catering to the gambling community online.
Visa/Mastercard transactions will be most affected by the new bill. It will be virtually impossible to use these cards for gambling online purposes and transactions. The banking sector has already claimed that it will be close to impossible to monitor electronic checks, which is quickly becoming the preferred method of payment for today’s gambling fans online. The actual impact of this recent legislation has not truly been felt just yet among the online casino industry and community. But one thing is certain – it will not be long before the affects of last week’s decision will be felt throughout the gambling world online – and they most probably will be very negative.