In May of 2011, we were hit with the news that Vegas Technology Casinos were no longer accepting new US players. However, existing players could still play at these online casinos. Caribbean Gold Casino was one of those VT casinos affected. In recent years, Golden Casino closed as well, but continued to serve existing players for a few months thereafter. Even the well-known Bodog Casino closed for a while, but then re-opened.LV Casino was a wonderful online casino that had great games and a memorable design, but it too closed due to poor management.
Closed Online Casinos
Why Have Well-Known Online Casinos Closed?
There are a myriad of reasons why popular online casinos closed. One of the major reasons was the implementation of the UIGEA Law in June of 2010. While many states in the US allowed online gambling, there seemed to be a crackdown on internet gambling due to this ambiguous law. In some cases, a great deal had to do with the payment methods. Banks began to decline credit card payments to online casinos, and even though VT casinos offered US players an alternative method to fund their casino accounts, the casinos could not continue due to the subsequent problems brought on by the relentless scrutiny of those who sought to stick to the “letter of the law.” Thus, they closed their doors to new players from the US.
The Domino Effect
In May of 2011, several poker sites were shut down due to fraud and other improprieties. This resulted in a domino effect, which is why the best of the US casinos had no choice but to acquiesce to the pressures brought on by the powers that be. Moreover, online casinos operating outside the US were closely monitored and whether it was due to the inability to process payments and withdrawals or simply a lack of professionalism; they soon became blacklisted as well. As more casinos closed, new online casinos launched in a hastily and unprofessional manner in an effort to fill the void. Unfortunately, they did not last either.
Will This Trend Continue?
It is hard to say. While Congress is still trying to repeal the UIGEA Law, many of the best US casinos are under pressure. Rather than having to close their doors completely, the more expedient thing to do is to stay open to non-US players in the hope that if and when the UIGEA Law is overturned, they can once again welcome players from the US.