02 December 2006


    Friday, December 1

    In the recent movie “Thank You for Smoking,” the hero–a tobacco lobbyist–comes under fire for working to protect people’s right to smoke.

    A similar movie could be made about gambling. The villain would be Rep. Bob Goodlatte (R-VA).

    Goodlatte has been fighting to enact legislation on Internet gambling for some time, and he can now finally claim a good deal of success with the passage of H.R. 4954, a port security bill with an anti-Internet gambling attachment. Goodlatte’s Unlawful Internet Gambling Enforcement Act (UIGEA) is set to make it illegal for American banks and financial institutions to process online gambling payments from the U.S.

    Finding a Way
    “The passage of this legislation is a step in the right direction in the fight against online gambling and will help to cut off the money supply to these illegal outfits,” Goodlatte said. It is true enough the legislation makes banks suffer the wrath Goodlatte feels towards the online gaming industry, but a key question remains: Will tightening the rope around bankers’ necks really stop online gambling?

    Following passage of UIGEA, gaming companies took a beating. PartyGaming, the world’s largest online gaming company, fell out of the FTSE 100 while World Gaming suspended dealings in its shares due to “uncertainty over its ability to continue trading.”

    Most of the world’s online gaming firms are not located in the U.S. due to government hostility, but now it appears that even those based in London and elsewhere are subject to America’s dominance in a global economy.


    Related News

    • Pragmatic play fires up new slot hot to burn

      New Online Slots

      Pragmatic Play Turns On The Heat With Its Hot to Burn SlotKristina Vujadinovic28 May 2020

      A new release from one of the leading suppliers of gaming content, Pragmatic Play, is ready to start a fire on the gaming market with its engaging gameplay. The provider has taken the classic fruit machine and spice it up with fiery elements and a quite nice winning potential. How big? Well, the game brings players a possibility to win 1000 times their stake!

      Read full article
    • Ireland considering increasing betting tax to punters

      Gambling News

      Ireland Considering Increasing Betting Tax to PuntersJesse Eddleman30 May 2017

      The way that taxes are handled in any particular gambling regime can be a key part of how the industry becomes structured as a whole. If taxes are too low, there isn't enough money to maintain the upkeep for the regulatory commission, and standards can fall. On the other hand, if taxes are too high, then they will have trouble attracting any operators at all because the profit margins will be too small.

      Read full article
    • Cherry exercises option for 7.5 percent of almor

      Gambling News

      Cherry Exercises Option for 7.5 Percent of AlmorJesse Eddleman16 April 2017

      The business deals that happen in the online gambling world can be very interesting. This is even more the case over the past few years when more companies have been merging in an attempt to beat out competitors, which in turn has led to an upward pressure for companies to get bigger and bigger in order to have a chance in the market. Cherry has recently exercised an option from a previous deal to pick up an additional 7.5 percent of Almor Holding in a similar business deal.

      Read full article