The entire online casino industry is buzzing about one story today. The Obama Administration has delayed the full enforcement of UIGEA for a 6 month period.
Before this announcement there had been a tricky situation developing where the momentum behind Barney Frank’s proposed bill to regulate online gambling had been growing and at the same time law enforcement agencies had been ramping up their efforts to be ready to enforce the full compliment of measures allowed for in UIGEA which was originally passed into law in 2006.
This latest move by the Obama Administration has at least put this dichotomous situation on hold for now.
This 6 month period now at least gives a window of opportunity to Barney Frank and his bill’s supporters to actually get something passed into law that would regularize the situation properly.
Unfortunately, time is still of the essence as six months is a very short time-frame when looked at in the context of how long it can take for a bill to actually be passed into law.
ON the upside, a lot f the legwork has already been completed so Frank and his bill\s supporters will certainly be able to hit the ground running in their attempts to make something positive happen in the six month period.