UIGEA Enforcement Blip on the Radar
From June 1, banks will be forced to to comply with the UIGEA. This doesn't change anything, says John Pappas of the PPA.
"Many people believe that any ill effect of the UIGEA has already been felt over the last four years," said John Pappas.
"While I can't make any guarantees, I do have a sense that this will be more of a blip on the radar screen than a catastrophic event, as some may have predicted."
At this writing, players are reporting of successful deposits on the forums, so this appears to be in line with reality.
No Risk of Losing Money
Pappas also stresses that players need not fear losing their funds at the poker sites:
"The law itself is only intended to affect deposits, not withdrawals from online gaming sites,"
Banking executive Kenneally also notes that individual players don't have to fear the UIGEA.
"Banks will not focus on individuals' accounts", says Kenneally. "Don't fear for your money."
While a few poker sites have decided to block US players as of June 1, online poker site Bodog specifically stated that they will continue to accept US players.
"We are confident that we can sustain our partnership with US players for a long time," said a Bodog representative. "After the UIGEA was passed in 2006, we adjusted our business model to accept those changes. If there are further negative additions to the Act, we will adapt again."
Regulation Next Big Step
The next milestone in the history of poker might very well be a regulation of the US market. This is our dream, of course, but it might bring a transitional period of total online poker blockage in the US, when operators sit still waiting for their license.
We'll see about that.