Online Casinos in the US are waiting anxiously for Barney Frank and his Financial Committee to successfully propose legislation of online gambling in the US. It has been a while that this has been proposed but seems to still be in abeyance with the Congress. The recommendations are so many and the co-sponsors supporting the bill have increased in number, but Barney and his team have a long way to go before they convince the Congress and have the bill passed favorably.
Currently the UIGEA an act signed by George Bush during his tenure does not encourage payment processors to bet in USA with online gaming sites from the US. Though the Act does not make gaming illegal, it prevents payments ultimately making the whole gaming experience difficult for US Players. This forces US Players to look for other avenues either offshore or licensed casinos within the US, who are allowed to accept their wagers and transact accordingly.
A number of US law makers recently sent a letter to the Treasury Department categorically stating, that the UIGEA rules would definitely cause stress during a crucial period of recovery for the financial industry. They further added that the UIGEA was fundamentally flawed and carried an unreasonable burden on regulators and financial services industry by and large, at a time when the economy was facing a crisis. The letter carried the signatures of Barney Frank and Pete King along with other supporters.
US Citizens are hopeful that all the recommendations to regulate online gambling will be favorably resolved sooner or later as it has been a while that this proposition has been raised. However, there are legal sites that are accepting US players having received licenses to do so. Online Casinos like Rushmore, Cherry Red and Slots Oasis willingly accept US players and more and more online casinos are beginning to accept all types of players.
US casino gambling laws presumably would change in the Fall of 2010, when the Congress will be viewing the proposal and hopefully pass the bill favorably. The concerted efforts exercised by Barney Frank and his team will be worth the effort, and as more and more co-sponsors are supporting this proposal Barney is optimistic that US players will soon be enjoying the thrill of online gaming minus the restrictions and hassles they now encounter.
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