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US Tightens Noose on Online Gambling |
August 22 - While the US government continues to tighten the noose around the
neck of online gambling, many of the world's leading online gambling operations
are seeking out other markets to focus on, particularly after the public demise
of top online sports book, BetOnSports.
The arrest of former BetOnSports CEO, David Carruthers last month, and the US
government charging him and 10 other senior BetOnSports executives with fraud
and racketeering, has caused the online gambling industry to sit up and take
notice of the US government's ever-growing anti-online gambling stance.
Whether the US government chose to make an example of BetOnSports as a warning
to other foreign online gambling companies to stop accepting business from
Americans or whether it is a sign of things to come, the message is clear that
foreign online gambling operations are not welcome to do business with American
gamblers.
Currently the vast majority of all online gamblers are based in the United
States, but after the BetOnSports debacle - which will probably result in the
once multi-billion dollar business being forced to close down - online gambling
operations are being forced to seek out 'greener non-US online gambling
pastures'.
One of the current options is to target Asia which has a strong tradition of
gambling but is still relatively untapped in terms of online gambling. Online
gambling analysts are speculating as to whether online gambling will catch on in
Asia and reach the same levels of popularity enjoyed in the United States.
Online gambling is even under threat in the UK and in Europe where although
long-established, it faces increasing pressure and competition from traditional
casinos and gambling operations such as Ladbrokes and William Hill, as well as a
tightening of online gambling laws and legislation.
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