What Does the UIGEA Really Mean?
The Unlawful Internet Gambling Enforcement Act prohibits gambling sites from accepting payment from a financial institution based in the United States. As the US government has no jurisdiction over companies that are based outside its borders (which most online casinos are), this part of the bill will be unenforceable for the most bit.
The UIGEA reiterates the prohibition of the transfer of funds from United States financial institutions to offshore sites. This includes banks and credit card companies. If the truth were told, most of these institutions already stopped paying online gambling sites before the bill was passed. As a result, most online gamblers pay for their fun via third-party online services such as Neteller and have been doing so for some time already.
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