by James
23. May 2010 08:38
June 1st, The UIGEA will go into effect within the USA and there is quite a worry that this could be the end of online poker within the states.
I’ve read on quite a few poker blogs that people believe that the UIGEA could be the Y2K of the online poker and gambling world. For those not in the know, here’s a bit of background of the Y2K Millennium Bug scare. In 1999, corporate America was gripped by a fear – that the flipping of the calendar to 2000 would cause significant problems in terms of the worlds computing power and in essence this would be start of the end.
Nothing actually happened. No planes fell out of the sky. No computers crashed, nor did SkyNet create a nuclear holocaust and revolt against humans. There seems to be this mentality that the online gambling industry will cease to exist after June 1st, but as we know bureaucracy as it does by its very nature, take its time and this what the general consensus I’m feeling around the internet.
As goes the nature of our own industry, there will be some changes; however, the industry will continue moving forward as we have over the past 10 years. The UIGEA will make it very hard to process gambling transactions, but there will be a way that sites that do accept US players get around this. The industry will continue.
I’m hoping that this will go on to prove and regulate the industry. Hopefully the industry will be regulated and congress does pass a bill that will regulate the UIGEA and regulate online gambling.