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The Effects of UIGEA

When the Unlawful Internet Gambling Enforcement Act was passed in 2006, online gambling was a huge business in the United States. Several online casinos and software developers based their operations in the country and several financial providers brought excellent tax revenue to their respective states. Since the law's passage, though, many things have changed.

Financial Impact

The most immediate and obvious effect of the passage of the UIGEA was the closure of several American-based business. Financial provider Neteller was forced to shut down its American operations almost immediately as the majority of the business was dedicated to facilitating transactions with online casinos. Software producers Cryptologic and Playtech could still develop their games, but they could not sell them. They soon moved their headquarters out of the country, taking with them hundreds of jobs.

Gambling Development

Because the United States had previously been supportive of the development of new games, innovation was common in the pre-UIGEA world of casino software development. After 2006, though, with many of the companies that had led the way in innovation forced to relocate and start over, innovation of new technologies stagnated. While new games are still rolled out every year, there have been fewer creative ideas introduced into the market.

The online casino industry is still finding its footing in the post-UIGEA world. While several new software companies have emerged and the larger companies have regained some of their dominance, it will be some time before we stop feeling the effects of the Unlawful Internet Gambling Enforcement Act.