Free Bankroll

Do you think there will be a bumper sticker that says: “They can have my straight flush when they pry it from my cold dead hand?”

What I find fascinating is the fact that very few of the people who rail against UIGEA understand how little it does or realize that the banks are not yet complying with it even though it became law in 2006.

In essence, UIGEA denys access to the payments system for illegal Internet gambling. It does not make Internet gambling illegal. Any prohibition must come from some other federal or state law. UIGEA merely says if the payment involves illegal Internet gambling, the bank must block check, ACH, wire, card, etc. deposits to its commercial (read business) customers. It has nothing to do with consumer (individual) accounts. The law does not require banks to actively monitor business accounts, let alone consumer accounts. The banks that have purportedly contacted individual customers about suspected Internet gambling are as lost in the weeds as its opponents are.

The law does not say how the bank should know the payment is derived from illegal Internet gambling. As millions of financial transfers take place every single day, the idea that banks understand every point of origin for every payment is simply ludicrous. All the law does is require banks to put policies and procedures in place on what to do if they find Internet gambling, it does not require them to look for it. Their most stringent requirement is to obtain a certification from their commercial customers that their activities will not involve illegal Internet gambling.

For the banks it’s “checklist” compliance, not a search and destroy mission. The law that opponents hate so much is so watered down as to make it meaningless.

Moreover, although the law is currently in effect, bank compliance is not mandatory until December 1, 2009. In short, most banks are smart enough to recognize a political football when they see one; very few have made an attempt to comply early. In addition to his bill to legalize and regulate Internet gambling Rep. Frank proposed a bill that would delay UIGEA’s mandatory compliance date for another year. The near term barometer for this issue is whether that bill, HR2266, passes.

The Government will never stop the desire for American people to play poker, I strongly suggest that all poker players join the Poker Players Alliance and join the fight. Write your Representatives to support Barney Frank’s bill. Approval of the Government to play online poker is coming, just of a question of when. Willgrey

Now for those that cry that gambling is bad for family etc. Let’s take a look at alcohol which we know causes illnesses, drunk drivers killing people which in return raises our car insurance, is addictive and teenagers drink alcohol.

Now let’s look at tobacco products which we know is addictive, causes cancer, causes millions if not billions of dollars per year in health care costs. The States sued the tobacco companies and got billions. Teens smoking is on the rise too.

Now what’s the difference between these 3? The Government isn’t collecting taxes on the monies spent with offshore gambling sites. So it boils down to money. And let’s not forget the hypocrites who legislate against legalizing gambling who in there own States have Casinos, horse racing, dog racing, lotteries and bingo parlors. All can be addictive, lead to money problems etc. So what’s the difference? Again is all about the money! These State senators and congressmen get monies from these gambling places in their States for his or her campaigns. Yet they have the nerve to say online gambling is a problem. This is a Joke and a double standard. If you can gamble like this at places all over the USA then people should have the freedom to choose to gamble online. If you regulate the industry then this Country will collect billions of dollars in monies each year. Plus to say that its fair to gamble in the USA at these places, but not online is unfair trade practices which the USA has already lost a case in the WTO. Yet they have ignored the ruling.