LONDON (Reuters) - Payment processor FireOne Group said on Tuesday it would stop dealing with U.S. online gamblers after President George W. Bush signs a bill into law banning payments for online gaming there.

“The act will have a significant negative impact on the business … and consequently the company has embarked upon a restructuring of its operations and cost base,” it added.

At the start of this month, U.S. Congress unexpectedly approved a bill making it illegal for companies to accept bets over the Internet or for credit card companies to process payments for online gambling.

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So basically, if you live outside of the USA, you are going to pay for all of the losses that FirePay will lose from it’s USA customers. It will be interesting to see what happens with the fees once they block the US players. Will they go up even more? Drop back down? Or have they raised the prices because this was the plan all along?

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