• A HYPOCRITICAL INTERNET GAMBLING BAN

    24 July 2006

    Newspaper

    THE HAMILTON SPECTATOR

    Protecting American family values — or the offline industry? Gambling is one of the great successes of online commerce. Americans bet nearly $6 billion online last year, roughly half the global total

    The Economist
    (Jul 22, 2006)

    As someone paid to have a keen appreciation of risk, David Carruthers must regret his choice of travel agent.

    The chief executive of BetonSports was flying to Costa Rica, but no sooner had he touched down in Texas to change planes than he was arrested and later charged, along with 10 of his associates and various companies, with racketeering, fraud and conspiracy.

    This week the shares in BetonSports and other online gambling companies listed outside the U.S. plunged as the suspicion grew that, after years of inaction, prosecutors mean to close the industry down.

    Much of Congress is on their side. Last week the House of Representatives voted to make it illegal to settle a bet with a credit card or wire transfer. Although the Senate is unlikely to make the bill law, the message is plain enough: Internet gambling is corrupting and illegal and should be stopped.

    The congressmen’s eagerness to demonstrate their uncompromising moral stance is more ironic than impressive. For the American campaign against Internet gambling is tainted by hypocrisy as well as futility.

    MORE – READ THE COMPLETE ARTICLE AT THE HAMILTON SPECTATOR

    Related News

    • 14 August 2019

      Global iGaming Market Value to Increase to $94.4 Billion by 2024

      The Global iGaming industry is very large and very profitable. All around the world, people are betting on sports events, horse races, and enjoying casino games or interactive video slots. The industry seems unstoppable, but exactly what is driving this growth and how will it all look like in the future? Now, a new market report by Zion Market Research answers these questions and reveals some surprising statistics about the industry and the factors at play in its growth. Massive Growth

      Read full article
    • 11 June 2019

      The Netherlands Gaming Authority Expects Online Gambling Market To Open In January 2021

      The Dutch top gambling regulator announced that the Netherlands’ new regulated online gambling market won’t take off for another year and a half. During the Gaming in Holland conference, the chairman of the Kansspelautoriteit (KSA) gaming regulatory body, Rene Jansen, said that the regulator was planning for the country’s new Remote Gambling Act to take effect on July 1, 2020. International Operators Highly Interested:

      Read full article
    • 30 December 2018

      Gambling Taxes in Italy See Big Jump, Playtech's Earnings Fall

      The taxes that gambling operators and software companies have to pay in a given jurisdiction are one of its biggest expenses. This means that even a relatively small shift in those rates can cause some major changes in what can be expected for business. This has recently been the case in Italy where their Senate has been working on a proposed budget for the following fiscal year, and this budget includes some unexpected increases to the taxes on gambling businesses.

      Read full article