The passage of the Unlawful internet bingo Gambling Enforcement Act in September results in a mass exodus of the respectable stock exchange listed gaming companies from the U.S. market. Many either sold their U.S. operations or notified their customers that their accounts were being closed. Did this put an end to internet gambling by U.S. players?  No, of course not. There are still many online casinos that are accepting U.S. players although there are many casinos that are becoming a little more selective. The online casinos are located beyond the reach of the U.S. government.

They are registered and licensed in places like Gibraltar, Malta, Antigua, Costa Rica and Alderney, to name a few places and they are in compliance with the law in the jurisdictions where they are located. Many are waiting for the U.S. government to publish their regulations associated with UIGEA before they make their final decisions about the U.S. market, which represented approximately half of bingo online gambling revenues. UIGEA prohibits the financial institutions from processing the financial transactions between U.S. players and the gambling companies.

What happens when the new regulations are written remains to be seen? That is what everybody is waiting to see how they are written and what they cover. Most players deal with an intermediary when completing financial transactions with an off-shore gambling company already since most credit card companies refuse to process the transactions. It is possible that most of the effects of UIGEA have already been felt.