..

Fixing The Wire Act: Virtual Conference Scheduled October 7

Written by:
C Costigan
Published on:
Oct/01/2020

Simply put, the Unlawful Internet Gambling Enforcement Act (UIGEA) is an unfunded mandate requiring banks to prevent certain types of money transfers from being used for the purpose of online gambling in the USA.


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

More than a decade after its passage, sports wagering in the US is legal on a state-by-state basis.  But the banks continue to enforce protocol as it pertains to Web gambling.  That's because financial institutions have little way of differentiating a "legal" betting transaction from one deemed "illegal".  This is especially true as more and more states continue to legalize the activity and offshore gambling sites experience record growth.

UIGEA specifically prohibits any person engaged in the business of betting, as defined, from knowingly accepting credit, electronic fund transfers, checks, or any other payment involving a financial institution to settle unlawful internet gambling debts. The Treasury Department and the Federal Reserve Board must develop jointly and prescribe regulations requiring payment systems to identify and block or otherwise prevent or prohibit the acceptance of payment for internet gambling transactions.

With a reliance on cryptocurrency, it is now common to receive payouts faster via offshore gambling sites than it is the licensed stateside websites.

An exclusive IAGA webinar "Making a Case for a Legislative Fix for the Wire Act Dilemma" to take place on Wednesday October 7 at 11AM EST looks to address this matter.

All industry eyes have been on the legal maneuverings related to the Wire Act for the past few years as the restrictions continue to keep the industry from meeting its full online potential.

By November, the elections will be behind us and a new Congress will be seated in January 2021. Now may be the time to collectively explore whether a legislative effort is feasible and, if so, what would it look like.

This discussion will scrutinize possible legislative efforts, investigate how best to structure legislation on the topic, probe possible paths and analyze the feasibility of its success.

The session will be moderated by long time industry stalwart Sue Schneider, Vice President of Strategy and Growth/Americas for Sports Betting Communities, the panelists include:

· Ayesha Khanna Molino, Senior Vice President, Government Affairs MGM Resorts International
· Hon. Jon C. Porter, CEO/President and Former Member of the U.S. Congress, PORTER Government & Business Solutions
· Charles McIntyre, Executive Director, New Hampshire Lottery
· Will Moschella, Shareholder, Brownstein Hyatt Farber Schreck

- Chris Costigan, Gambling911.com Publisher

Gambling News

Can I Bet Sports Online With Just a Valid Email?

Can I Bet Sports Online With Just a Valid Email?

More and more online sportsbooks are moving to the anonymous wagering model.  Sites like Nitrobetting only require a valid email to open an account and to get paid.

Premier League Clubs Will Vote on Banning Gambling Brands as Shirt Sponsors

Half of last season’s 20 top-flight teams in the Premier League had betting sponsors on their shirts, but that could soon be changing.

2022 NFC North Early All Weeks Game Spreads

Beyond the week-by-week spreads, you can see each team’s Super Bowl, conference and division odds.

Room Service: Vegas Hotels First VR Porn Delivery Robots Coming Soon

Room Service: Vegas Hotels First VR Porn Delivery Robots Coming Soon

Guests at select Las Vegas hotels will soon be able to have Virtual Reality porn delivered to their hotel rooms discreetly via a robot, which may actually do the complete opposite as this is sure to arouse other guests who happen to be in proximity.

Why The Crypto Casino Industry Is Blooming

Why The Crypto Casino Industry Is Blooming

The online casino industry is always open to modern technological innovations, and thus, new technologies have hit the industry at a rapid rate. Today, blockchain technologies and cryptocurrencies have positively impacted the industry to the extent that they are already making waves. 

Syndicate