The Euro Vegas Super Casino

US Gambling Firms to Focus On Europe And Asia

The press has started focusing on this new US Internet Gambling Enforcement Act of 2006 which was passed by Congress and about to be signed by President Bush.

Though the new legislation states that it is not illegal to gamble online, most banks and credit card companies have allowed the public to have the option of setting up an account online thus allowing them to access or transfer funds online. According to this new legislation, it specifies that it is illegal for any bank, credit card company or financial intermediary to process transfers to or from an online gambling site.

With this new legislation on the works, US customers will find it much more difficult to fund their online gambling accounts. During the next 270 days, the Government board will come up with procedures and guidelines that will take effect for certain financial institutions.

Several online poker firms such as PartyGaming (PartyPoker), 888.com (Pacific Poker) and Playtech (Titan Poker, CD Poker, Noble Poker) have announced that they will no longer take US customers but focus more on Europe, Asia and other potential markets. So, how has Europe reacted with the online poker firms decisions? On September 2007, the UK will release all measures to support legalized online gambling making sure that everything will be in place and all licenses to be issued. At the moment, UK government is working on an orderly plan to legalize, regulate and tax online gambling firms as well as to identify and offer any help for problem gambling.

Gambling minister Richard Caborn has stated in a meeting last July with Betfair that Britain should become world leader in the field of online gambling, providing their citizens with the opportunity to gamble in a safe and well-regulated environment.

Under the records of the Freedom of Information rules, some UK ministers and officials are getting quite comfortable with online gaming executives after having met with them 26 times in the past 2 years.

The policy towards online gambling is not so clear in other European and Asian countries. A lot of countries are still under government-sponsored monopolies and forbid licensing or marketing by private companies.

The European Union has repeatedly ruled that EU countries should stop protecting their government-sponsored monopolies and should permit competition from private companies. France and Germany and some other countries has continued to ignore EU rulings but Sweden has finally managed to comply.

Online gaming firms are very eager for Europe and Asia to clarify and evenly enforce online gambling policies due to the recent US legislation of preventing funding of online gaming accounts. Investigations on several EU state policies regarding online gambling has been initiated by the European Commission. They have said that they may announce action against these states as soon as this month.