The Bingo Lounge Blog

Viability of the UIGEA

April 2, 2008 marked the Congressional hearings into the viability of the existing Unlawful Internet Gambling Enforcement Act (UIGEA). The hearing was entitled “Proposed UIGEA Regulations: Burden Without Benefit?” and was conducted by the House Committee on Financial Service’s and the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

A phenomenal amount of media coverage has been broadcast as delegates listened to all the reasons why the law has been daubed too ambiguous. This in effect, makes it very difficult to efficiently provide regulations for the UIGEA.

One of the points that emerged from Federal Reserve and Treasury officials is that federal law is unclear as to what type of gambling is illegal on the Internet (online).”One of the most common complaints is that the proposed rules fail to sufficiently define key terms, leaving financial institutions with significant compliance difficulties” said Chairman of the Subcommittee on Domestic and International Monetary Policy, Congressman Luis Gutierrez. He explained by saying: “For example, the regulation fails to adequately define what constitutes ‘unlawful Internet gambling’ or a ‘restricted transaction’, yet requires the financial institutions to make a determination on their own about what is lawful or unlawful”.

According to the Congressman, this will place consumers at risk of having their lawful transactions blocked. He emphasizes that it is easy to see exactly how these regulations could cause chaos on electronic commerce in the United States if they are implemented in their current form.

UIGEA came into effect late 2006 and has seen many complaints from both banks and gaming companies. The hearing gave some hope, but the true outcome has still to be seen.

The Bingo Bugle Newpaper Group, in co-operation with Special Event Cruises is sponsoring the 20th anniversary World Championship Bingo Tournament & Gaming Cruise. Since 1988, this unique special event has caught the attention of the bingo world, as well as becoming the “vacation-of-a-lifetime” for thousands of your bingo friends and neighbors. In honor of this milestone, we have “set the stage” for a special fun-filled 8 days aboard the Miracle, one of Carnival Cruise Line’s newest and grandest ships.

You’ll have the time of your life on this ship.The “Exotic Southern Caribbean” itinerary includes stops at St. Maarten, St. Lucia and St. Kitts, which means historic plantations and fortresses. terrific shopping opportunities and the world’s top beaches.

The grand final of the BWC 2008 will take place on Sunday 16th March and will start at 8pm EST.

The BWC platform allows for one participation per player at the night of the grand final.

There will be 3 qualifying rounds in all on each participating site, with the top 5 players from each qualifying round winning a seat at the Grand Final.

Those players that qualify either on the same site or on any of the Bingo Entertainment N.V. sites in the 1st round will not be able to qualify in the 2nd and/or 3rd rounds and the person next in line will receive their seat.