Online Gambling Enforcement Act Of 2006 - 1203 Words

Back in 1996, the explosion of online casino gambling swept the world. The United States had been a large part of this, and many gamblers had turned to online casinos for all of their gaming. For many years, these casinos continued to be played unabated. Unfortunately, back in 2006, legislation was passed that made it slightly difficult for online casinos to continue to operate. This legislation, sneaked in by piggyback through the Safe Port Act, would be named the Unlawful Internet Gambling Enforcement Act, and it became a thorn in the side of the online gambler, the online casino, and all payment processors there in. The Unlawful Internet Gambling Enforcement Act of 2006, or the UIGEA, had, in a nutshell, prohibited banks and payment processors from processing transactions that would correlate to online gambling. This has not only complicated loading accounts, but also withdrawing. While USA online casinos have continued to operate, they have had to use payment processors that would circumvent these restrictions. Sadly, the UIGEA was not even set to go into effect until December of 2009, thought the implications of the legislation had fall out that would be nothing short of catastrophic for many online gambling companies, especially those that relied heavily on the United States market. The UIGEA had hamstrung many of the operations around the world that utilized the American market in order to stay ahead in profits, all the while keeping losses to a low. TheShow MoreRelatedInternet Gambling1505 Words   |  7 PagesRunning head: CASE STUDY IV: INTERNET GAMBLING CASE STUDY IV: Internet Gambling May 6, 2006 This document will inform you about the history of internet gambling, the existing issues, and a number of concerns involved with online gambling. Prior to the launching of the World Wide Web in 1993 which changed the setting of gambling, people had to travel great distances to gamble. The world s first virtual online casino, Internet Casinos, Inc. (ICI) commenced operation on August 18, 1995Read MoreDaily Fantasy Sports : Sports, Money, And A Lack Of Commitment1678 Words   |  7 Pagesuntil just a few months ago. When sites like FanDuels and DraftKings began getting worldwide media attention, claiming these sites could be considered gambling. In response, lawmakers have been falling over themselves to try and put a leash on this industry. However, lawmakers are having trouble deciding if daily fantasy sports constitute as gambling, or if they are just a skills based game. Many still don’t know what know what daily fantasy sports are or how they are played. The beginning of dailyRead MoreDavid and Goliath World Trade Organization Case Study Essay1149 Words   |  5 PagesOrganization Case Study Assignment 4-3 Prepared for Prof. Stephen Millett MBA 711, H4FF Fall 2010 Prepared by Gary Cooper December 2, 2010 David and Goliath World Trade Organization Case Study Jay Cohen and two friends established an online gaming site on the islands of Antigua and Barbuda; they named the organization World Sports Exchange (WSE). Mr. Cohen was prosecuted by the U.S. government; his conviction resulted in a battle between the U.S. and the two small Caribbean islands ofRead MoreDavid and Goliath Case Study Essay795 Words   |  4 PagesWager Act of 1961, which prohibited using wire communications for betting within the US or between the US foreign countries. Jurors were not moved by his basic defense that a foreign government sectioned what the US made criminal. He showed courage by returning to the US from Antigua, but he was still tried as guilty. 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Per 2006, the Unlawful Internet Gambling and Enforcement Act of 2006 (UIGEA), the fantasy sports have been provided safe passage and distinguished from the online gambling. However, in some of the states has legal restriction and regulation on online sports fantasy (Klein, 2014). Hence the marketing and integrated communication strategy will need to follow the legal guidelines to avoid any alleged violations of federal regulations and state anti-gambling statutes. The rapid technologyRead MoreCyber Predators And Its Effects On Children1593 Words   |  7 Pagesmessaging, social networking sites, chat rooms, message boards, and even cell phones. Online predators do not fit any one mold or stereotype; seemingly upstanding citizens have been caught enticing children for sexual acts. Contrary to popular belief, most online predators are not pedophiles. Pedophiles target pre-pubescent children, while online predators typically target adolescents who engage in risky online behavior. (Wolak J, Finkelhor D, Mitchell K, Ybarra M. 2008). †¢ Describe the type ofRead MoreFantasy Sports : A Staple Of American Culture2520 Words   |  11 Pagesthe United States alone. Gambling also has a storied history in the United States as well with Jamestown, first British American settlement, financed with lotteries in 1687. They now both appear in the sports news feed, as there is a question to whether fantasy sports leagues are a form of gambling and is it legal. Fantasy sports leagues are a form of gambling and there need to be restrictions because the risk outweighs the reward for people. The first action of gambling goes all the way back toRead MoreCyber Crime Costs And Its Effects On The World Essay1854 Words   |  8 Pagesboarders of countries. Under this social background, with the growing importance of the Internet as a communication and publishing platform and tool, the impacts of crimes online has became stronger and stronger. As we know, cybercrime, including hacking, phishing, identity theft, hactivism, cyberterrorism, cyberextortion, online fraud and financial crimes committed on the Internet, has became a more and more severe problem for people around the world. According to Forbes.com, Cyber Crime CostsRead MoreCasino Industry Strategy Case Study Essay6573 Words   |  27 PagesAssignment 1 - the Casino Industry 1. Introduction - current situation overview The three most common forms of casino gambling in the USA are the land-based, the river-boat and the Native American gambling. During the year 2009, the commercial casino industry used to employ about 375000 people earning around $13 billion in wages, making it one of the biggest industries in the USA. Commercial casinos are a major part of the actual entertainment landscape. For proof,  ¼ of the U.S. adult population