The state of latest Hampshire is preparing to function its own online gambling site next week, and lawmakers have devised an intriguing approach to avoiding the UIGEA Internet gaming ban. Because the controversial law prevents payment processing to and from online gambling sites, New Hampshire will sell physical tickets throughout the lottery, then those tickets wioll be utilized by players to fund time at online casino games.By collecting all payments during the sale of tickets, the state doesn't want to accept Internet payments which might be blocked by the pernicious UIGEA enforcement. Money only exchanges hands for the transactions involving the acquisition of a paper ticket, made by the client in person.
Then, although the consumer goes home and proceeds to gamble on the online casino site, he never must use his bank card or a third-party payment system, because the ticket carries coded information allocating him the right kind credit on the gaming site.
The system in many ways mirrors the design of sweepstakes Internet gambling cafes, that supply online casinom access to customers who purchase phone time cards. Payoffs are made in accrued time, after which the telephone cards are exchanged for cash before the buyer leaves the store.
Selling tickets that carry an exchange value could be a method tested by adventurous online casino operators desperate to avoid the difficulties presented by the new UIGEA limitations. The code from the ticket could then allocate funds to an internet casino account, without cash ever directly changing hands.
If it may be established that the tickets can be utilized for purposes instead of gaming, then the truth that online gambling is likely one of the options available cannot disqualify those sales from bank card purchases, and third party processing would no lnger be needed.
Published on June 24, 2010 by PrestonLewis
Read More... [Source: UIGEA News]
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