It will soon be illegal for American banks and credit card companies to process payments to online gaming companies. The new law will make it vitually impossible to operate online gambling companies in the US.
“The bill, a compromise between earlier versions passed by the two chambers, would make it illegal for banks and credit card companies to make payments to online gambling sites. Democrats had accused Republicans of pushing the bill to placate its conservative base, particularly the religious right, before the 7 November congressional elections“
Some websites went further and described the Unlawful Internet Gambling Enforcement Act of 2006 “a spectacular display of hypocrisy, meaningless toadying to right-wing zealots, and a blatant attempt to protect the horse racing, tribal casino, and state lottery lobbies”.
That’s telling ’em.
Meanwhile, shares in online gaming companies nose-dived.