UIGEA approaches one-month birthday with little effect
It’s been almost one month since the full force of the UIGEA regs came into effect, and generally speaking, it’s been something of an anti-climax. In fact, the main complaints are being voiced by state-sponsored horse racing outfits, whose online betting sites received special carve-out exemptions in the UIGEA. These sites are being over-blocked by credit card companies who are either (a) trying very hard to make sure they don’t let a single illicit transaction escape its gaze, or (b) reminding the government that offloading the entire responsibility onto financial firms can have unintended and undesirable consequences. Read more.
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