Online Casino Transfer: News - Norway Passes UIGEA-like Law

02/27/2010		Online Casino Style: News Norway Passes UIGEA-like Law
Home History Games News Dictionary		It’s amazing to play witness to some of the decisions made by world governments: even as the US comes closer to the reversal of the Unlawful Internet Gambling Enforcement Act, even as Congress considers legalization as a means to generate much needed tax funds in an economic crisis, another nation has gone ahead and followed the UIGEA’s precedent by signing into law a similar bill. Norway has even gone so far as to ban internet gambling in spite of the trade laws that most European countries respect for mutual benefit, disregarding all recommendations issued by the European Commission. Norway has already put themselves in a negative light on the map with their continued enforcement of a monopolistic online gambling system, and has now passed a law that prohibits the processing of financial transactions linked to offshore gambling companies. All transactions will be blocked from ‘unauthorized sites,’ conveniently defined as any internet gambling service outside of those provided by the state’s monopoly. Though Norway is not a member nation of the Union, it does participate in the European Economic Area, and is a member of the European Free Trade Association. Dually, the Nordic nation should be responsible for adopting most of the regulations and laws, practicing cooperative trade, but has repeatedly refused to do so when it comes to internet casinos. They are one nation standing apart, and having opted out of participation in many of the Union’s programs, bodies and initiatives. Coincidentally, the law will go into effect the same date that the UIGEA enforcement date in the US, that of June 1st, 2010. Many industry experts believe that at least in America, a resolution to the ban on the market could be had well before then, as Barney Frank gets closer to having his proposal passed in Congress. The enforcement date has already been pushed back once before, buying more time for financial institutions to stabilize.

02/27/2010

Online Casino Style: News
Norway Passes UIGEA-like Law

It’s amazing to play witness to some of the decisions made by world governments: even as the US comes closer to the reversal of the Unlawful Internet Gambling Enforcement Act, even as Congress considers legalization as a means to generate much needed tax funds in an economic crisis, another nation has gone ahead and followed the UIGEA’s precedent by signing into law a similar bill. Norway has even gone so far as to ban internet gambling in spite of the trade laws that most European countries respect for mutual benefit, disregarding all recommendations issued by the European Commission.

Norway has already put themselves in a negative light on the map with their continued enforcement of a monopolistic online gambling system, and has now passed a law that prohibits the processing of financial transactions linked to offshore gambling companies. All transactions will be blocked from ‘unauthorized sites,’ conveniently defined as any internet gambling service outside of those provided by the state’s monopoly.

Though Norway is not a member nation of the Union, it does participate in the European Economic Area, and is a member of the European Free Trade Association. Dually, the Nordic nation should be responsible for adopting most of the regulations and laws, practicing cooperative trade, but has repeatedly refused to do so when it comes to internet casinos. They are one nation standing apart, and having opted out of participation in many of the Union’s programs, bodies and initiatives.

Coincidentally, the law will go into effect the same date that the UIGEA enforcement date in the US, that of June 1st, 2010. Many industry experts believe that at least in America, a resolution to the ban on the market could be had well before then, as Barney Frank gets closer to having his proposal passed in Congress. The enforcement date has already been pushed back once before, buying more time for financial institutions to stabilize.