Internet Gambling Ban Protesters Headed to Washington D.C.
October 27, 2006 - The voices talking so loudly against the Unlawful Internet Gambling Enforcement Act (UIGEA) on forums and blogs across are the internet will be leaving their keyboards on November 3-4 and will be headed to Washington D.C. to protest the latest US prohibition.
Friday the 13th, Part VIII -- As expected, President Bush signed the Ports Act into law today without a mention of the appended Gambling Prohibition Act. The fine folks at APCW.org just released a new video which we have included here and shows the duplicity of this legislation's backers Check it out:
This Man Just Lost a Billion Dollars: Now How Bad Was Your Day? -- In the wake of the "Black Friday" gaming legislation the US congress passed last week, billions of dollars in value was wiped off the London stock markets on Monday. Key publicly held online gaming companies such as PartyGaming, 888.com, and SportingBet PLC were hit hard by the sell off. More of the Online Gambling Legislation.
Congress Passes Unlawful Internet Gambling Enforcment Act of 2006 -- September 29, 2006. In end of session, election time politics at its finest, Senator Frist (and possible Presidential candidate in 2008) from Tennessee tacked on an Internet gambling bill to the SAFE Port Act meant to protect America's ports from Terrorism. At first glance, it appears this act criminalizes EFTs from banks to online gambling sites (including sports, poker, and casinos). It is pretty clear EFTs from banks to casinos will be stopped by this, but the question is how "intermediaries" such as Neteller or Moneybookers will be effected, and whether more of the big sites will start proactively banning US players. Here is the full text of the passed bill (Gambling portion starts on page 213). They have set a timeline of 270 days after it is signed into law for implementation to be underway. Due to widespread interest in the topic on behalf of Bet2K and our readers, we are starting a Online Gambling Legislation Blog for easy reference to new and old developments.
BetOnSports Lays Off 800 Employees -- Shortly after our previous article regarding BetOnSports CEO's arrest, they stopped taking wagers both online and over the phone. Their problems seems to be worsening as several weeks of lost revenue and the overall case against them force them to lay off 800 employees in Costa Rica and Antigua. In a related press release, BOS said it is shutting down services for American gamblers and will be refocusing on the European and Asian markets. Since the Asian markets only accounted for 5% of their profits last year, their future doesn't look bright at this time.
BetOnSports CEO Detained in Dallas on Racketeering Charges -- One of our partners', BetOnSports, shares dropped 15% on Monday after their CEO was arrested on various charges on a layover during a flight from the U.K. to Costa Rica. This is a huge move for the Justice Department and could be due to congressional pressure and the currently debated bill illegalizing online gaming. This also signals a change from the governments previous stance on the legality of internet wagering. Obviously, this is a subject we have much interest in and will continue to cover for our readers.
Internet Gambling Ban Protesters Headed to Washington D.C.
This Man Just Lost a Billion Dollars: Now How Bad Was Your Day? -- In the wake of the "Black Friday" gaming legislation the US congress passed last week, billions of dollars in value was wiped off the London stock markets on Monday. Key publicly held online gaming companies such as PartyGaming, 888.com, and SportingBet PLC were hit hard by the sell off. 
Congress Passes Unlawful Internet Gambling Enforcment Act of 2006 -- September 29, 2006. In end of session, election time politics at its finest, Senator Frist (and possible Presidential candidate in 2008) from Tennessee tacked on an Internet gambling bill to the SAFE Port Act meant to protect America's ports from Terrorism. At first glance, it appears this act criminalizes EFTs from banks to online gambling sites (including sports, poker, and casinos). It is pretty clear EFTs from banks to casinos will be stopped by this, but the question is how "intermediaries" such as 
BetOnSports Lays Off 800 Employees -- Shortly after our previous article regarding BetOnSports CEO's arrest, they stopped taking wagers both online and over the phone. Their problems seems to be worsening as several weeks of lost revenue and the overall case against them force them to lay off 800 employees in Costa Rica and Antigua. In a related press release, BOS said it is shutting down services for American gamblers and will be refocusing on the European and Asian markets. Since the Asian markets only accounted for 5% of their profits last year, their future doesn't look bright at this time. 
BetOnSports CEO Detained in Dallas on Racketeering Charges -- One of our partners', BetOnSports, shares dropped 15% on Monday after their CEO was arrested on various charges on a layover during a flight from the U.K. to Costa Rica. This is a huge move for the Justice Department and could be due to congressional pressure and the currently debated bill illegalizing online gaming. This also signals a change from the governments previous stance on the legality of internet wagering. Obviously, this is a subject we have much interest in and will continue to cover for our readers.