European Union has deep concerns on Illegal Online Gambling Enforcement Act, imposed by US government. European Union (EU) pleas US government to review its policies regarding online gambling as numberless foreign casino companies have been suffering a great loss due to online gambling ban in US as all these companies have been flourishing their business with the assistance of US potential customers.
European Union considers it a violation of trade accords with other countries if US government continues this unlawful ban on online gambling business. European Union is anxiously waiting positive response from US government, approving this plea.
European Union has option to sue US via the World Trade Organization but the European community wants to give chance of negotiation with Obama’s Administration directly and hopefully EU is waiting the settlement of the issues without taking case in WTO.
Eu took notice seriously and appealed US when US government regulated a law to freeze all bank accounts which were liable to payout US customers via casino websites. It is informed that approximately $30 million payout was frozen which the casino players won via online casino websites.
As Obama Administration is trying to cope up with all nations of the world in more friendly manner than former Bush Administration. It would be test of Obama’s so-called proclaims how he pays attention towards the plea of European Union to take off ban on online gambling business.
Barney Frank, representative has been striving hard to regulate manifold laws of online gambling by introducing many bills which would terminate UIGEA. But it is not important to terminate UIGEA for solving issues of EU community.
It is hoped that if internet gambling laws are regulated legally, there would be more chances for US casino companies to get licenses for running their online gambling business more securely. But it may have heavy stroke to other foreign casino companies who may have no more good position for running their business in the US market.
The foreign investors & customers calculate their losses of almost $100 million, if UIGEA turns out into a law. European Union may get help for the compensation of such massive losses by taking case in front of WTO.