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

  • 14 May 2010

    Canadian Man Pleads Guilty in U.S. Online Gambling Charge

    Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.

    Read full article
  • 02 June 2010

    France to Award 30 Licenses for Online Gambling

    Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.

    Read full article
  • 09 June 2010

    France Issues 11 Licenses For Online Gambling

    France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.

    Read full article