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UIGEA Errors in the Press

(2 posts)
  • Started 11 months ago by Big Jim Slade v2.0
  • Latest reply from Eric Blade

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  1. Big Jim Slade v2.0
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    I think we should correct reporters when they report incorrect information about poker and public policy.

    I keep finding news articles such as the Associated Press article at
    http://www.google.com/hostednews/ap/article/ALeqM5gN23deoZpnnDJ2qnmvRZXIJR1YPAD99DQ6U81

    in the article, the news reporter says

    "A 2006 law prohibits financial institutions from accepting payments from credit cards, checks or electronic fund transfers to settle online wagers."

    Please correct me if I am wrong, but I do not think that is what the law says at all. I think the law is more correctly characterized by saying

    "A 2006 law prohibits financial institutions from accepting payments from credit cards, checks or electronic fund transfers to settle online wagers ONLY IF SUCH WAGERS ARE ILLEGAL."

    My understanding of the law is that wagers for sports betting are covered by the UIGEA, but poker betting would only be covered in about 13 or so states. Someone please speak up if they think I am wrong or can verify that I am right.

    I think we should politely let reporters know they are wrong when they are.

    The reporter in question here is FREDERIC J. FROMMER. I have not yet been able to find contact information on him.

    Posted 11 months ago #
  2. It is my understanding that it doesn't even do that - it only prevents US banks from opening accounts for companies that deal in "illegal gambling". Someone correct me?

    Posted 11 months ago #

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