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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 :
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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