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Will New Regulations Really Stop Funding of Online Gambling

Wednesday January 21, 2009
Although the Unlawful Internet Gaming Act (UIGA) was passed in 2006, many online players have still been able to fund accounts using their credit or debit cards. New regulations that took effect Monday January 19 is supposed to prohibit gamblers from using credit cards or debit cards issued by U.S. banks. U.S. money transfers also will be blocked.

Though the regulations took effect Monday, banks have until Dec. 1 to figure out how to comply with them. Right now the Banks have their hands full with the other serious financial. It will be an almost impossible task to monitor every online transaction. Many of the online gambling and poker sites have set up dummy business so your transaction shows up as an online purchase. It will be interesting to see how much of these transactions will be stopped. If you have any firsthand knowledge or have been denied by your credit card company, please post a reply and let us know what happened. I know of two people who were successful in funding an online account within the last two weeks.

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