At what time will the UIGEA have its full impact?

[fukkeneh]

This may have been discussed.

I'm just wondering what date will the US payment processers be forced to comply will the UIGEA, and stop all transactions for internet gambling??

Has an actual date been set? I thought it was 6 months, but obviously people are still getting money online.

So when is the acutal "D"-Day?

[MiltonFriedman]

1. It was to be within 9 months.

2. If you do not consider the Party exit an impact,what is a full impact ?

[frommagio]

[ QUOTE ]
1. It was to be within 9 months.

2. If you do not consider the Party exit an impact,what is a full impact ?

[/ QUOTE ]

I would say the NETeller freeze was an even more significant impact; at least Party paid out, and even paid a large overlay above and beyond their obligations. The NETeller situation is pretty scary.

We may not be finished with the full impact yet; NETeller is not the only intermediary out there.

[MiltonFriedman]

I think you are partly right, but the Neteller arrests were NOT a UIGE Act affair. It was basically under the 1960's Wire Act. There were NO UIGE Act complaints filed.

The "freeze" may or may not have been UIGE Act, but I bet NOT as there would be no "thaw" like that announced.

[fukkeneh]

[ QUOTE ]
1. It was to be within 9 months.

2. If you do not consider the Party exit an impact,what is a full impact ?

[/ QUOTE ]

Full impact. - As in all credit card companies and banks forced to comply with the Act, making it impossible for further money to flow online.

[kevstreet]

[ QUOTE ]
[ QUOTE ]
1. It was to be within 9 months.

2. If you do not consider the Party exit an impact,what is a full impact ?

[/ QUOTE ]

Full impact. - As in all credit card companies and banks forced to comply with the Act, making it impossible for further money to flow online.

[/ QUOTE ]

[BruinEric]

The below is pure conjecture on my part...inaccuracies not intentional.

1) There is no firm "D-Day."

2) UIGEA guidelines not finalized and in place yet, but various financial entities seem to be slowly complying with the overall theme. A check processor in the US left that market, etc.

The 9-month timeline was for these guidelines -- that is from 10/13/06 (from memory, correct me if I'm wrong).


3) My guess as to UIGEA "D-Day" is a short time after the regulations are finalized -- the regulations themselves might (guess) include an implementation timeline for financial institutions to fully comply.

4) Receiving withdrawals post "D-Day" will probably be okay, but you might just have to get a foreign check drawn on a foreign account mailed from another country.

5) Deposits are the main problem -- and the big question is whether US Banks will find a way to block even your mailed personal check, or whether "phone card" / "gift card" type loopholes will be closed or are even closeable.

[Skallagrim]

If, as is being rumored, the UIGEA regulations exempt ACH transfers (costs the banks too much, and the statute specifically allows the regs to do this) THEN THE GREATEST IMPACT OF THE UIGEA HAS ALREADY HAPPENED AND THINGS ONLY GET EASIER FROM HERE.

[JPFisher55]

I agree with Skall.

[fish2plus2]

What about moneygram? that seems like an underrated option by everyone on 2+2. $2500 and only a 10 dollar fee.

will that go?