Online Gambling...It's All Over Without iMEGA

[Swamp-Gator]

Online Gambling: It's All Over Without iMEGA

For the lucrative online gambling industry, firmly committed operators are now admitting that "If iMega doesn't come through, we might as well just pack it in".

iMEGA is the trade organization that is currently challenging a controversial online gambling ban. The Unlawful Internet Gambling Enforcement Act - passed in October - requires banking institutions to monitor and prevent transactions for the purpose of online gambling activity in the United States.

While there is currently a move by several politicians to have the law repealed, that process could take months, assuming it happens at all. The UIGEA ordered banks to have in place an "across the board policy" demonstrating how such transactions would be monitored. The early July deadline has come and gone with little evidence of a policy change, though the banks insisted they needed more than the 270 days allotted to them.

iMEGA's goal is to get the court to declare the UIGEA unconstitutional and unenforceable. The group says the act violates the First Amendment’s rights to freedom of speech and commercial association as well as the Tenth Amendment’s protections of states’ rights to regulate online gambling.

“We think the law infringes on the First Amendment and Tenth Amendment rights of our members,” Edward Leyden, iMEGA’s president, told Red Herring last month. “And we also believe the government has exceeded its authority in its WTO dispute with Antigua and that too has harmed our clients.”

A Federal Judge in the state of New Jersey has assigned a hearing date of September 4 for its lawsuit.

"iMEGA is our (the online gambling industry) only hope right now and I get the sense that people don't really understand the urgency here," one operator, asking for anonymity, told us Tuesday morning. "We need this thing to work. Once the banks get involved it's all over."

Right now, while many of the top tier payment processors have stopped doing business with US-facing online gambling companies, the banking industry itself had not been required to abide by any ruling until after July 1. Sources close to Gambling911.com have revealed that the banks are quietly supportive of iMEGA though not financially. The organization is now aggressively seeking donations in order to pay for court fees. A few of the online gambling establishments have helped out but not all.

"The big online poker players need to get on board here," said one operator. "We realize that Alfonse D'Amato and the Poker Players Alliance are doing a commendable job but their efforts won't stop the banks in the short term and it is questionable whether they will be able to do so in the long term either."

The consequences of iMEGA losing in its effort? The big name online poker sites still catering to US players will be forced to shut down, at least to the US market. Poker Stars, Full Tilt Poker will not be able to take money in nor will they be able to make payouts.

The writing may already be on the wall.

Antigua's Gaming Director, Ron Maginley noted that the online gambling jurisdiction of the Isle of Man recently gave notice to gaming companies that it intends to close all gaming-related accounts.

“Already, some companies here have been given notice," Maginley said. "Under the law here, gaming companies are required to put ‘gaming’ in their names and in relation to getting accounts, certainly the local banks here are showing reluctance to offer new accounts, even to companies registered here.

Calvin Ayre, CEO of Bodog.com, confessed com that this will be the first football season his company will not be actively marketing. While Bodog has no intention at this time of leaving the US market, his company is going to be focusing more heavily on Europe and even Asia over the coming months.

"Things have gotten really difficult in the US," Ayre said.

[The Judge]

For the lucrative online gambling industry, firmly committed operators are now admitting that "If iMega doesn't come through, we might as well just pack it in".

This statement is bullshit. There are numerous top tier books that have absolutely no intention of "packing it in".

[Swamp-Gator]

Originally Posted by The Judge

This statement is bullshit. There are numerous top tier books that have absolutely no intention of "packing it in".

I agree Judge, but some of the biggies like Bo-Dog might be which I don't care because they suck anyway. As long as Betjam hangs in there we will be fine. Just thought I'd pass this info along.

[Dr. Jack]

I can also tell you Bodog is still marketing in the US to sites who deliver gamblers. A lot of sites don’t do that well and the bottom line is the books are spending more wisely in the US which I happen to like.

I hope IMEGA does some good things and obviously it would be huge if they win the case but I also know there are several books that don’t even have a clue who IMEGA is. My opinion is that line is an exaggeration and a headline grabber.

Also about bodog – people will always get their money but they are struggling with new processors and are behind other some books in terms of quick payouts but you will NEVER find someone that gets stiffed from Bodog. It’s who you compare them to. They might not be paying out as quickly as about 4-6 top books but if you compare them to books like SB.com they are still delivering at much quicker rate.

Just my humbled opinion of course

[The Judge]

Originally Posted by Swamp-Gator

Just thought I'd pass this info along.

Swamper, my comment was not directed at you but rather, the author of the article.

[cincyredwing]

Originally Posted by Dr. Jack

I can also tell you Bodog is still marketing in the US to sites who deliver gamblers. A lot of sites don’t do that well and the bottom line is the books are spending more wisely in the US which I happen to like.

I hope IMEGA does some good things and obviously it would be huge if they win the case but I also know there are several books that don’t even have a clue who IMEGA is. My opinion is that line is an exaggeration and a headline grabber.

Also about bodog – people will always get their money but they are struggling with new processors and are behind other some books in terms of quick payouts but you will NEVER find someone that gets stiffed from Bodog. It’s who you compare them to. They might not be paying out as quickly as about 4-6 top books but if you compare them to books like SB.com they are still delivering at much quicker rate.

Just my humbled opinion of course

Doc I agree completely. It took about 35 days for my last payout to roll through but I DID get it from bodog. In the end I don't really care who I'm with as long as it's accessible and the payouts are there. If bodog bails on the US I just hope I get time to react.

[Go Michigan]

will this affect thegreek sportsbook?

[Dr. Jack]

GM - Your in Canada. No one has ever closed to Canada because of this that I know of. Greek is fine

[packrats]

should one consider pulling all their funds out of bodog soon?

[Dr. Jack]

Bodog spent millions of dollars bailing out WWTS, BetCorp customers last year – they are not screwing anyone. In my opinion the article is misleading and you can be rest assured that if Bodog ever pulled out of the US you would get your money

[Go Michigan]

Originally Posted by Dr. Jack

GM - Your in Canada. No one has ever closed to Canada because of this that I know of. Greek is fine

thanks for response

[verdict]

national enquirer of gambling…. no credibility

[packrats]

thanks, dr. jack.

[BigdaddyQH]

The article is misleading because iMEGA has absolutely NO chance of winning their argument. The US Supreme Court is going to rule against them if it gets that far. The off shore books are not going to go away just because of that. This case wouldtake years, not months, to be heard. I agree with the Judge and Jack on this one. I think that once a deal is struck to allows U.S. gaming interest into the game, all of this will go away.

[Swamp-Gator]

Originally Posted by BigdaddyQH

The article is misleading because iMEGA has absolutely NO chance of winning their argument. The US Supreme Court is going to rule against them if it gets that far. The off shore books are not going to go away just because of that. This case wouldtake years, not months, to be heard. I agree with the Judge and Jack on this one. I think that once a deal is struck to allows U.S. gaming interest into the game, all of this will go away.

I totally agree and also believe the article is MisLeading. Guess I shouldn't have posted it but thought of it as an interesting read anyway. I personally don't ever think the offshore books will get closed down and also agree with Dr. Jack about BoDog. I have dealt with them for years with no probs. I did however close my account with SB.com because my last payout took several months which I thought was total BS. I can handle 3-4 weeks but 3-4 months??? Get real SB!! Haven't had a pay-out from Betjam yet but I hear they are one of the fastest. Once I start winning and can get a pay-out I'll let ya know LOL!!