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The Money Bomb online fundraiser in July 1st was a huge success. Generating more than $25,000 in donations, the “Poker Money Bomb” funds will be used to defend the legitimacy of regulated Internet gaming on Capitol Hill.
American poker players received a new reminder that the Unlawful Internet Gaming Enforcement Act [UIGEA] Deadline on June 1st was coming. A few days ago, US players who were still playing online poker on the MicroGaming network were privy to emails like the following:
“Unfortunately due to circumstances beyond our control, as of 1 June 2010, PokerTime will no longer be able to take bets from players residing in the United States.
“If you currently have a balance in your account you will need to cash-in prior to 31 May 2010 as PokerTime will not be able to process cash-ins after this date.”
Federal law went into effect on June 1, 2010 to hinder online gambling activity in the United States. Instead of seeking the websites and players who participate in the now illicit activity, the Fed is going after the banks who allow money to be transferred to the gambling websites.
Beginning June 1, credit and debit card processors must have “reasonably designed policies and procedures” in place to detect if U.S. transactions are tied to bets placed with Internet gambling sites, according to a finalized rule by the Federal Reserve.
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A 51-year-old Missouri man has been charged with participating in the conduct of a gambling business and conspiracy to launder the proceeds of a gambling business by the U.S. District Court of Maryland.
Kenneth Wienski of O’Fallon, Mo., was charged under the Unlawful Internet Gambling Enforcement Act (UIGEA) for transferring money to and from Internet gambling operators to fund player accounts.
A hearing on the taxation of Internet gambling was held today. Regulations proposed by Rep. Jim McDermott (D-Wash), some of which include possible deposit taxes, were considered. The proposal also outlines a .25 percent tax on each wager, along with a .2 percent tax on a deposit. Witnesses and members of the committee weigh the pros and cons of the proposal.
