PPA's John Pappas Breaks Down UIGEA Compliance Delay
Posted: Monday, December 7, 2009 - 1 comment(s) [ Comment ] - 0 trackback(s) [ Trackback ]
Category: News
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By P5s Staff | Published Dec 03 2009, 04:52 PM 

altThe mandatory financial services industry compliance with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA) being delayed for six months has been at the forefront of poker news headlines this week. Accordingly, the PocketFives.com Podcast powered by the USA-friendly site Carbon Poker welcomes Poker Players Alliance (PPA) Executive Director John Pappas to the show. Pappas will break down what the delay means for players and field listener questions.

altThe PPA, two horse racing organizations, members of the House and Senate, and a variety of financial associations authored petitions to U.S. Treasury Secretary Timothy Geithner (pictured at left) and Federal Reserve Chairman Ben Bernanke calling for a one-year delay in compliance with the UIGEA. Last week, the two officials authorized a six-month extension. Pappas told the PocketFives.com Podcast, “The UIGEA will not go into effect for at least six months. We feel fairly confident that we should be moving in the right direction, which means that there is legislation to clarify the UIGEA within these six months. If we reach that deadline, further extensions will be granted.”

So what does a six-month extension mean for players in the United States? Will sites likePartyPoker and Paradise Poker begin flooding the U.S. market? Pappas forecasted, “It’s additional breathing room. Most importantly, it gives us a defined window in which we can establish the clarity that is needed to make sure the rights of online poker players are protected. This gives us an opportunity to establish a licensed and regulated marketplace.” The UIGEA was approved in the closing minutes of the 2006 Congressional session and tacked onto the SAFE Port Act, an unrelated port security measure.

altA hearing in the House Financial Services Committee on Thursday discussed the merits of HR 2266 and HR 2267. Congressman Barney Frank (D-MA, pictured at right) introduced both bills; the latter outlines a system for internet gambling outfits to solicit U.S. customers. On whether he expects pro-internet gambling and online poker legislation to be passed, Pappas responded, “I’ve always been a strong believer of it’s not a matter of if, it’s a matter of when. The next logical step is once [prohibition] proves to be a failure, I think they’ll license and regulate it. I think we have a very good chance, perhaps even in 2010. The onus is now on our Federal Government to do something.” As it stands now, the regulations must be followed by June 1st, 2010.

Many PocketFivers have asked whether withdrawals from online poker sites will be affected by the UIGEA. Pappas shed some light on the troublesome question: “The UIGEA should not impact any withdrawals. The regulations make it very clear that they are only seeking to prevent deposits. If your bank is doing it for some other reason, that’s an issue you’ll have to bring up with your bank and the PPA will certainly help where we can.” The PPA has its ownLitigation Network open to paid members that puts poker players in touch with local legal counsel.

Finally, the PPA has launched Tweet for Poker in recent weeks, taking grassroots political advocacy to a whole new level. What is Tweet for Poker, you ask? Pappas revealed, “This is another way to reach members of Congress. Twitter has become a very popular social networking tool. Members of Congress are beginning to engage in this medium. We know a lot of PPA members are Twitter users. What we’re doing now is cutting edge in terms of public policy.” It takes all of 10 seconds to send a Tweet to your Congressmen.

Check out the rest of this week’s PocketFives.com Podcast featuring PPA Executive Director John Pappas.
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