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UIGEA Delayed Six Months

Poker players and industry members around the country are rejoicing after the announcement that the Treasury and Federal Reserve would be delaying the implementation of the Unlawful Internet Gambling Enforcement Act regulations for no less than six months. The original deadline for the UIGEA was December 1st and would have forced banks to comply with regulations set by the act. A request for a delay was submitted by the PPA and a number of other associations including the National Thoroughbred Racing Association and American Greyhound Track Operators Association, which now approved pushes the deadline back to June 1st, 2010.

“The [Poker Players Alliance] is extremely pleased with the decision by the Federal Reserve and Treasury to grant the six month extension. This is a great victory for poker, but an even greater victory for advocates of good and fair public policy,” said PPA Chairman and former Senator Alfonse D’Amato. “These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year. It is our hope that another extension would be granted should the deadline approach before these pieces of legislation can be passed.”

Players are hopeful that the delay will allow for new poker legislation to be heard, such as the hearing on December 3rd held by Rep. Barney Frank, which will start the process on two poker-related bills he introduced back in May. One bill seeks to legalize and regulate the online gaming industry, while the other asks the UIGEA deadline to be pushed back all the way to Dec. 1st, 2010.

“It shows signs from this administration that the UIGEA, as it is drafted, is not sound public policy and that it is worthy of further review,” said PPA Executive Director John Pappas. “This also puts the burden back on Congress to say, hey, we’ve delayed this, it’s up to you guys to clarify this law. It really puts Congress on notice to do something.”

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