Uigea Not Ready To Gamble Online Security
UIGEA (Unlawful Internet Gambling Enforcement Act) was enforced in 2006 by the then President of USA, George W. Bush, for the purpose of regulating online gambling in the country, it was definitely not a jackpot for the gamblers; especially the newcomers. It is because, under the act, one cannot transfer money to online casinos from countrys financial institutions. Today, UIGEA heads Section VIII of the Safe Port Act, integrated into law for the safety of the US ports. Therefore, online gamblers from USA are finding it extremely difficult to play in many of the lucrative casinos due to the stringent laws.
Since the act has been enforced, many PR traded websites enlisted in London Stock Exchange, refused to accept US online gamblers. While many non-public companies gave the thumbs up to the US online gamblers, there were quite a lot who didnt. The result was that the value of the company shares of those listed in the stock exchange fell drastically. However, there are casinos outside the US, who have taken advantage of this situation and have allowed US gamblers to deposit money with them. The main reason for such strict laws is the emergence of a class of frauds who are web experts. The infamous 9/11 incident was also a cause.
Even after all this, gambling remains a favorite pastime in USA. This is a result of a strong belief that gambling can change their lives for the better. Moreover, unparalleled advancements in online technology have also resulted in the formation of thousands of online casinos. Though online gambling is closely monitored through strict security codes, it is not a deterrent for those who want lady luck to shine on them and hit a jackpot! The only suggestion to newcomers is to be fully conversant with the prevailing laws.