New Regulations Do Nothing but Confuse

November 19, 2008

The new regulations that were passed regarding online gambling and the financial institutions that process their payments do nothing but confuse gamblers all over the country. The Treasury Department had announced that they were going to pass the regulations for the Unlawful Internet Gambling Enforcement Act, even though the banks had asked them not to.

The regulations put a lot of the onus on banks to keep out online gambling from their books, but with the way they were set up the banks said that it was impossible. However, according to experts the new rules will not only confuse most people they will give the banks an out.

The new online gambling rules and regulations will have bank customers signing a stipulation in their terms that says that they will not participate in online gambling. This does not stop online gambling, even though the ant online gambling groups are calling it a victory.

The group Focus on the Family Action says that these new regulations will protect families from the dangers of online gambling. However, as it is not illegal to gamble online, families haven’t been protected by anything. Instead, if they really want to protect their families they should regulate the online gambling industry for this will make it tougher for those that shouldn’t be gambling to be able to.

What they don’t realize is that by regulating online gambling the online casinos would have to follow laws regarding age limits and loss limits, which they don’t have to do as long as this kind of legislation is passed. Instead, people will keep gambling, and no one will be protected.




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