Don't let the govt decide what you do with your money
In 2006 Congress passed the Safe Port Act. Attached to the bill was a provision called, UIGEA (the Unlawful Internet Gambling Enforcement Act) which prohibits the transfer of funds from a financial institution to an Internet gambling site, with the notable exceptions of fantasy sports, online lotteries, and horse/harness racing.
Not only is UIGEA an extreme violation of personal freedoms, but the government is passing up on an estimated $52 billion over the next decade in revenue! Wouldn't this extra revenue make sense considering the current financial crisis we are facing?
Supporters of the ban, claim offshore Internet gambling websites take billions of dollars out of the U.S. economy (because the government is not taxing and legislating internet gambling companies move overseas); damage families (if people want to gamble they certainly have other vehicles at their disposal); and are used for money laundering of drug money, and funding terrorism (an obvious scare tactic, the gaming industry is no more responsible for these outrages than the automobile industry).
Another factor in this whole sordid affair is the effect of financial markets around the world.
The London-based Remote Gambling Association has accused the U.S. Justice Department of singling out European online gambling companies like PartyGaming and 888.com for prosecution while allowing U.S. companies to operate freely.
The European Commission, began a formal investigation into that issue last year and is expected to release a report claiming grounds to take action at the World Trade Organization.
All online gambling sites listed on the London Stock Exchange or similar markets have stopped taking United States players due to the passage of the UIGEA. PartyGaming, which runs PartyPoker.com, had its publicly-traded stock drop almost 60% in 24 hours as a result of this bill being passed.
This is an issue that has gone beyond poker players and is affecting mainstream Americans. If you feel as strongly as I do, I urge you to write or e-mail to your member(s) of Congress and urge them to support Barney Frank's (House of Representatives Financial Services Committee Chairman) upcoming legislation to repeal UIGEA, and regulate and tax the industry.
You can find your Congress members and their contact information on the PPA (Poker Player's Alliance) website: click here
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Contact Steve at bostonpokerexaminer@live.com
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