UIGEA Exposed Pokers Dark Side
The Unlawful Internet Gambling Enforcement Act (UIEGA) passed in late 2006. This law was piggy backed into the security port act and signed by president Bush into law. This law has nothing to do with national security, but what it has done is create an online poker cartel.
The hands that own and operate online poker are now much fewer thanks to the passing of the UIEGA. The law basically makes it illegal for US banks to process online gaming transactions. It does not make it illegal for US citizens to gamble online.
Many people and affiliates of online poker were very confused about the law and its repercussions. Many gaming and poker sites pulled completely out of the US market when the law passed. Virtually every public company pulled out as well. Party Gaming who owns Party Poker stopped taking US players virtually overnight. They went from the largest online poker room to a medium sized poker room with the flick of a switch.
Several private companies decided not to pull out of the US market. One of these companies is Poker Stars. Poker Stars is privately owned and before the law passed, they were a medium sized poker room. When they decided to stay in, and many poker sites pulled out, they became the largest online poker room almost overnight.
Is this just a coincidence that one law change crushes many US player poker sites and greatly helps out just one or two? I think not. The UIEGA also allowed online poker and other gaming rooms to steal billions of dollars overnight. How is that?
Most of these poker rooms stopped taking US players, and US affiliates. Affiliates are responsible for bringing in nearly half of ALL of the revenue from online gaming. Affiliates are paid a bounty, or a percentage of revenue by the online poker and gaming sites. Some of the top affiliates were making residual income of over $500,000 a month from these online poker and gaming giants.
When the law passed, many of the gaming sites said something to the effect of this. Oh, were sorry, but because of the new law, we can no longer keep you as an affiliate. Oh yeah, we won’t be paying you any further commissions on the millions of players you brought us. Sorry.
Whenever a law changes, all you have to do is follow the money. When you have a market that is billions of dollars a year huge, it’s not run and controlled by idiots. It is controlled by the most elite and ruthless people of the world.
There has NOT been one poker site to be indicted by the US government for taking US players. It is not a matter of if, but when the law will be changed. Online gaming in the US will become regulated like everything else in this country.
To give you an idea how absurd this law is, look at Doyle’s room. Doyle Brunson who is a Nevada State resident, openly promotes his online poker room. He is a US citizen and he gladly takes US players and their deposits.
There are talks going on right now between land based casinos and internet gaming sites. Many companies are going to merge and they are patiently waiting for the law change before acting on further consolidation.
The UIEGA law has not reduced online gambling. Not one bank, nor gaming site, nor individual gambler has come under any indictment or prosecution by the US government in regards to online poker. Online gambling continues to still grow. The US still makes up the largest percentage of online gamblers in the world combined. What has happened is that the rich just keep getting richer. That is virtually the only reason laws are passed in this great country the USA.
Online poker shows no sign of slowing down. The growth in the online poker industry has been helped by countless factors including television exposure, celebrity interaction, huge cash prizes, and the ease of online access. One out of every 4...
Online Poker Cheating On The RiseThe most important factor for the success of online poker and gaming is security. People must feel that the gaming site is fair, has good fraud measures, pays out deposit requests, and most importantly detects and prevents cheating....
Carbon Poker Caters To The CheapiesCarbon Poker is an excellent and an interesting poker site offered by the Merge gaming network. This poker site is growing rapidly these days. It offers high quality game play, along with various additional features....
Increase Your Online Casino Gambling RewardsOnline casinos are big business. Whether you are talking about offshore live casinos online, or simply virtual casinos, they offer a wide array of benefits. If you enjoy casino gambling, the advent of online gambling can bring those winnings right...
Carbon Poker Bonus ReviewCarbon Poker is an excellent and an interesting poker site offered by the Merge gaming network. This poker site is growing rapidly these days. It offers high quality game play, along with various additional features....