Online Poker

June 1st UIGEA Deadline Arrives, Players Hold Their Breath

by Poker Team

C-Day is officially upon us. The “C” of course stands for compliance, as in compliance for the UIGEA. Unless there is some secret backroom negotiating going on in Capitol Hill right now, today is the day that 6 months ago, the Poker Players Alliance played a large part in having the deadline pushed back for the financial services industry to comply with the regulations set forth when the UIGEA passed several years ago.

It was believed that the 6 month extension would allow for time for new legislation to pass to modify the original legislation but due to the presence of much more pressing matters in this country and the world as a whole, this has not come to fruition. Between the continued global financial issues, unrest in other parts of the world, the continuing war on terror, and now the environmental disaster in the Gulf of Mexico, there has simply been too much going on for lawmakers to specifically address the state of online poker.

Though today’s deadline does not make it illegal for players to play poker online, online customers are preparing to have more difficulty in making deposits and receiving payouts. It does appear however that some online entities had taken steps to prepare for a possible doomsday scenario. In particular, last Monday, PokerTime sent an email to their affiliates that read,

“Due to legislative changes in the USA as of June 1st, 2010, PokerTime will no longer be accepting bets from U.S.-based players. All players’ balances in excess of $20 will be cashed out on the 31st of May 2010. We thank you for your support and patronage and look forward to continued success with you in other marketing territories.”

At present time, this is the only known action taken by an online poker entity as none of the major sites such as Full Tilt Poker nor PokerStars had released any intentions about doing the same in shutting out US players.

Furthermore, the PPA has been at the forefront since day one. In a statement issued on their website, executive director John Pappas said

“We don’t expect [June 1st] to be a doomsday scenario for online poker. To be clear, it is not going to be unlawful for you, the poker player, to play internet poker… Nothing should stop you from getting money off of an online poker site.”

While his words are reassuring, it is too early to tell if anyone has had any problems in making transactions today. You can be sure that this will be something closely followed by all members of the online poker community.

  • Richard Aboussleman

    NetSpend / All-Access Visa has stopped transactions to Pokerstars and Full Tilt….Unknown about any others

blog comments powered by Disqus