Penny Slots alive for another six months
December 3rd, 2009
We were contacted by many readers of this blog, wondering what will happening to little innocent online penny slot machines. The reason they asked, in case you are unaware, is that the US government was pushing a law to abolish most forms of online gambling. And believe or not, this included betting pennies at slot machines. Now, we want to give a general update on this matter.
Penny slot players are in good hands with Obama’s administration. The implementation of the online Gambling Ban has been delay for another 6 months. It’s deadline was on this past December 1st and thanks to the efforts of some Democrats, as well as major banks and financial institutions, the Treasure of the USA has delayed it. They put some pressure on since the UIGEA (as the law is called) was not very clear in many things. Technically speaking, the online gambling ban does not pursue particular slot players nor the casinos themselves, rather it aims at stopping all financial institutions from providing payment services to and from gambling sites. According to specialists, the UIGEA is very unclear in many points so that banks and e-methods are not sure exactly what classifies as unlawful gambling site and which are considered legal. This uncertainty prompted the delay and we should expect a revision of the UIGEA in the following months. Some experts say that they will even try to pass a new legislation that will make legal for online gambling sites to operate and be taxed in the USA. This will make online gambling therefore much safer with more companies based within the US, and will provide a healthy income to the government of an estimated $2 Billion dollars a year.
This seems to be good news for now for online penny slot players in the USA. US players will still have several options for deposits and cash out winnings from online penny slots.
