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There is a new law waiting to be signed by President Bush which was presented to Congress that is holding the $12 billion online gambling industry by a thread. It appears that Tennessee Senator Bill Frist, introduced the bill on Saturday by joining it to the Safe Port Act before Congress took its election recess in November.
The Unlawful Internet Gambling Enforcement Act that is expected to be signed by President Bush, will practically finish off all online gambling sites by making it illegal for any bank, credit card company or online payment system to process any payments being made to online gambling companies.
The new law states that Online Gambling sites are now banned from accepting any type of check, credit card or electronic transfer payments for internet gaming in the US and seriously puts the industry in chaos.