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Online gambling merchant account buzz: New law leaning towards offshore

Online gambling merchant account buzz: New law leaning towards offshore 

 

If you are an online gambling merchant account holder, then you probably already know or if you haven't, should know of the new challenges that internet gambling now faces. There's this new law being discussed that will bans U.S. banks to process transactions from players betting on online gambling sites. Is this good news or a bad sign for owners of online gambling merchant accounts?

The law related to online gambling merchant accounts, the Unlawful Internet Gambling Enforcement Act of 2006, will give an online gambling merchant account holder more leeway in dealing with offshore banks, thus, giving more avenues for online gambling merchant accounts offshore. Offshore merchant account providers can now have more opportunities to direct online gambling merchants with different banks outside U.S. soil.

As follow up to an earlier article written in connection to this developing bill, other bills, specifically the Internet Gambling Regulation and Enforcement Act and the Internet Gambling Regulation and Tax Enforcement Act, are being considered as ways to improve the services of online gambling sites. These bills deal with online gambling operators to get licenses, take more strict measures to prevent child gambling and compulsive betting over the internet, and secure online financial transactions.

If you'll closely examine these bills, they tend to favor the offshore banks, so, the locals are up in their feet in making known that they more to loose now than when internet gambling was less regulated. Well, let's all just wait and see what happens, especially the impact it will have on your online gambling merchant account.

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