A lot of people in the gaming industry appears convinced that the web gambling laws area about to change in the United States. That belief is what has inspired the UC Group, a payment processing company in the United Kingdom, to create a subsidiary in the US that will be prepared to process online gaming related transactions in the country.
The US subsidiary of the UC Group is SecureTrading. The organization, which is manage by several former employees of MasterCard, does not see any delay in the online gaming processing once the UIGEA (Unlawful Internet Gambling Enforcement Act) is overturned in the US.
Chris Thom, former Chief Operating Officer at MasterCard, said on February 10th, 2010, that momentum for regulated online gaming in the United States has been gaining ground for quite some time. He said that as Congress prepares to take the final step on the issue, SecureTrading Incorporated's turnkey system is ready to enable their customers to go live immediately the moment online gambling is fully regulated.
Representative Barney Frank has introduced a proposal that would overturn the Internet Gambling Enforcement Act. Frank also placed the groundwork in the proposal for a regulated online gambling market in the United States.
In the past few months, there have been an increasing number of legislators that have joined in Rep. Frank's cause. His proposal has now more than 65 co-sponsors and several have proposed different forms of online gaming legislation themselves.
Although the UC organization is already equipped with many of the regulatory provisions that would be place in a new system, any non-conformance could cost online casino facilities to lose their gaming license. Money laundering and anti-fraud tools are already used in the UK business of the UC group.
02/17/2010 11:57 PM