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No Gambling Online - Just Everywhere Else
The WSJ on the destruction of the former online gambling giant, BetonSports, as well as the Houdini-act of its fugitive founder, Gary Kaplan, whose whereabouts are "unknown." Based on some of the details in the story--the machine-gunning of a computer terminal after the company lost big on a football game--Kaplan sounds like a tough guy to love. This said, given the explosion of "legal" gambling in the United States, from Vegas to riverboats to Indian reservations to state lotteries to, yes, the stock market (investing isn't gambling, but trading is), the Puritanical crusade against online gambling seems, at best, arbitrary.
Can gambling addictions wreck people's lives? Of course. But now that we're all within a couple of hours ofa legal casino, the addicts are certainly going to find a way to get their fix, and it is arguably a heck of a lot more dangerous to drive home after losing your shirt than to stumble out of your desk-chair and into your bed. And now that quasi-reputable companies have been banished from the 'Net, the gamblers will just do business with the less-reputable ones, etc.
So it is not hard to believe that the law Congress passed last October banning online gambling was, in fact, just an act of protectionism, presumably sponsored by one of our country's most profitable and successful industries. Oh, you can gamble all you want, says Congress--we just want to make sure that you have to buy some plane tickets, rent some hotel rooms, and eat at some restaurants while you do it. And we want to make sure that you lose your money to our upstanding friends in the gambling lobby, not some sleazy dude in Costa Rica.
A reader writes that it's the potential loss of state tax revenue that gets politicians all up in arms about online gambling, not the Vegas and local-gambling lobbyists. It seems that the industry could be regulated in a way that would allow each state to collect its generous helping, but then this would bring the potential loss of campaign funding and votes into play.
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Gambling News :
Is Gibraltar Out of Luck in US Tax Challenge -
Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.
Quickspin are now available in Denmark -
#quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.
UCypher Launches -
Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.
Extreme Live Gaming In deal With Betsson -
Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.
Expansion Mode For BoyleSports -
The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..
Safecharge Q4-2016 -
Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.
ASA Most Controversial Ads of 2016 -
Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.
Yggdrasi To Enter Italian Gambling Market -
Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.
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