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Banker speaks against UIGEA

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Banker speaks against UIGEA

The ABA vice president Kenneally has spelled out one of the biggest problems with UIGEA. Due to the immense difficulty of enforcing the restrictions, there is also a huge monetary cost, one which is both unfair as well as impossible for the banks to shoulder themselves. While the federal government was perfectly happy to pass the law, and will eagerly punish any banks that fail to comply, they completely failed to implement any kind of system to pay for even part of the cost of the ban. This means that banks will have to pass on the cost to customers or go out of business. So now Americans with no interest in casino games, who have never even logged into an online casino, will be bearing the brunt of the cost of implementing this law. If you think this sounds unfair, it only gets worse. Banks are unable to block a large percentage of the transactions, since in most cases there is no clear way to see if the company the money is being sent to is a casino. Many of them will probably end up blocking transactions that aren’t related to online casinos. This means that many Americans will be faced with the inconvenience and cost of a system that not only has nothing to do with them but also doesn’t even work. That, unfortunately, is the reality of UIGEA.

Meanwhile, online casino fans outside the U.S. are still able to enjoy all kinds of games. Canadian online slots are readily available, and top sites like All Slots casino come highly recommended.