Copyright © 2023. All Rights Reserved. Poker History. Editor: Erik Smith.
UIGEA IN EFFECT
The Federal Reserve System in consultation with the Attorney General had 270 days to get the UIGEA into effect. It was required to enact regulations instructing financial service providers how to identify and block restricted financial transactions.1
When the law was passed the financial world was not ready for it meaning that they were not yet able to block all gambling transactions.
There were billions of transactions being processed every day in America and it took a while before banks were able to classify which transactions were connected to gambling thereby falling under the UIGEA.
A system had to be put in place so that fantasy games for instance would still be processed since they are excluded from Unlawful Internet Gambling.
Some gaming operators were hanging in until the said system was implemented and after that they pulled out of the U. S. In some cases companies decided to cease operations all together as it was the case for the most respected Digital Gaming Network skin: Full Contact Poker2.
1 §5364 (a)
2 Pokerroomreview.com, June 11, 2007