mikeh1975
09-30-2006, 03:35 PM
gambling bill could get tied up in litigation
While the US Congress has successfully passed a bill that would curb internet gambling through use of credit cards and other banking instruments, sources close to Gambling911.com say "Not so fast".
According to these sources, litigation brought on by some industry giants and other nations dependent upon internet gambling might hinder the measure pertaining to wagering online.
Gambling911.com has learned that at least one industry giant plans to release a statement as early as this coming Monday. NETeller, the largest eGaming funds transfer system and company most likely to feel the early affects of this measure, are also scheduled to issue a statement on Monday.
A number of online gambling giants have been in discussions all morning Saturday to discuss ways of confronting this legal measure head on as opposed to rolling over and departing the U.S. market.
Late Friday night, the internet gambling provision sailed through Congress as part of a popular bill to secure U.S. ports. Democrats in the House expressed disgust at adding a measure to curb internet gambling while refusing to allow provisions for rail and mass transit safety but voted on the bill even though it fell short of what they were asking for.
"God forbid something happens on our mass transit system and the American people find out that Republicans could not find time to add provisions to make mass transit safer yet you found time to add a measure that would prohibit internet gambling," said one representative speaking before the House.
Strong support for the online gambling industry has come from a one-time foe, Las Vegas.
The Vegas casino industry has developed a unique synergy with what were once considered nemeses thanks in part to the World Series of Poker. The WSOP attracts hundreds of thousands of people to Las Vegas during the months of July and August, fueled almost exclusively by internet poker rooms who sponsor the event.
"This is the only event where we don't blink an eye laying down a million dollars for exhibit space," commented one online poker room this summer. "We make that money back within the first few days."
The exhibit space is held for nearly a month. With a few dozen exhibitors, that money adds up fast. Throw in the throngs of people descending upon Vegas to witness the event, and no wonder there has been a drastic change of heart.
Of course, the Vegas casino giants also have intentions of one day benefiting directly from online gambling. For now, those dreams are diminished slightly.
"There is going to be a lot of information out on Monday," said our source.
While the US Congress has successfully passed a bill that would curb internet gambling through use of credit cards and other banking instruments, sources close to Gambling911.com say "Not so fast".
According to these sources, litigation brought on by some industry giants and other nations dependent upon internet gambling might hinder the measure pertaining to wagering online.
Gambling911.com has learned that at least one industry giant plans to release a statement as early as this coming Monday. NETeller, the largest eGaming funds transfer system and company most likely to feel the early affects of this measure, are also scheduled to issue a statement on Monday.
A number of online gambling giants have been in discussions all morning Saturday to discuss ways of confronting this legal measure head on as opposed to rolling over and departing the U.S. market.
Late Friday night, the internet gambling provision sailed through Congress as part of a popular bill to secure U.S. ports. Democrats in the House expressed disgust at adding a measure to curb internet gambling while refusing to allow provisions for rail and mass transit safety but voted on the bill even though it fell short of what they were asking for.
"God forbid something happens on our mass transit system and the American people find out that Republicans could not find time to add provisions to make mass transit safer yet you found time to add a measure that would prohibit internet gambling," said one representative speaking before the House.
Strong support for the online gambling industry has come from a one-time foe, Las Vegas.
The Vegas casino industry has developed a unique synergy with what were once considered nemeses thanks in part to the World Series of Poker. The WSOP attracts hundreds of thousands of people to Las Vegas during the months of July and August, fueled almost exclusively by internet poker rooms who sponsor the event.
"This is the only event where we don't blink an eye laying down a million dollars for exhibit space," commented one online poker room this summer. "We make that money back within the first few days."
The exhibit space is held for nearly a month. With a few dozen exhibitors, that money adds up fast. Throw in the throngs of people descending upon Vegas to witness the event, and no wonder there has been a drastic change of heart.
Of course, the Vegas casino giants also have intentions of one day benefiting directly from online gambling. For now, those dreams are diminished slightly.
"There is going to be a lot of information out on Monday," said our source.