United States Cracks Down on Online Gambling

October 2nd, 2006 by siteadmin Leave a reply »

Well the U.S. has passed a law that will outlaw online gambling.  They are putting the task in the hands of financial institutions to restrict any online gambling transaction.  This is really going to hurt the industry – or will it?  What will happen to the 3rd party financial institutions like Neteller?  Neteller is foreign based and is not directly affiliated with any one particular online gambling site – so will it still be legal for U.S. citizens to fund a Neteller account in order to gamble online?  My other website, SportsBettingCash.com generates 95% of its profit from United States citizens.  I really hope that this new law does not impact my income too badly.  I know that all of the major gambling corporations based in Europe have had their stock prices plummit after this new law was introduced because arond 50% of their customer base is here in the United States.  Does the United States even deserve the right to control online gambling?  I personally believe it is an individual’s choice to do what they want with their money.  I personally love to gamble online and plan on continuing to do so in the future.  One interesting idea that I read eariler was that the industry for underground gambling might grow here in the United States if we are unable to do any online gambling.  I am sure the brick and mortar casinos here in the United States are loving this new law as there are BILLIONS of potentional revenue dollars involved in this new legislation.

 Click here for Bloomberg’s article on this subject

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