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Internet Gambling Industry Stirs While some investors have been worried about a possible U.S. legislative ban, legalization might actually be worse for existing online betting companies. Offshore operators are moving to diversify their offerings, in an effort to attract more business from outside the United States. read full article
Internet Gambling Prohibition Act will set the Wrong Precedence U.S. is turning the world into a replay of George Orwell’s Animal Farm.From the ongoing replay of “Big Brother” by the Bush Administration, and now “Animal Farm”.The U.S. is turning Orwell into Nostradamus. I hope we are not going to wake up one day to the tune “Internet gambling is illegal; Casino gambling is good for the economy.” read full article
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According to the EU internal market commissioner Charlie McCreevy, it is inevitable" that some of the cases currently being worked on concerning EU member states' gambling laws will go to the European Court of Justice (ECJ), Europe's highest court. He made this prediction in a recent European Policy Center event in Brussels.
read full articleFederal Reserve and Treasury officials said on Wednesday they were struggling to craft rules to ban bank and credit card payments to illegal Internet gambling sites because federal law is unclear about what type of gambling is illegal online.
"That is something we're really struggling with," Louise Roseman, the Fed's director of reserve bank operations and payment systems, told a House Financial Services subcommittee.
"The challenge we have is interpreting ... federal laws that Congress itself isn't sure what they mean," Roseman said.
The word virtual is now commonly used in the computing world as an adjective to refer to objects that are not physically real but mimic the real thing. Internet gambling however is real enough but it occurs in the networked communication space that we have all come to embrace.
Virtual gambling does not happen on the internet alone. It can be on your own computer or a dedicated machine that provides you the same type of environment that you would have in a “brick and mortar” casino. Internet or online gambling is therefore part of virtual gambling.
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