| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Bill Causes Troubles
- Sunday, 8 Oct 2006
The UK online gambling businesses online gambling companies have nothing to be happy about, as their shares went down really fast when the US online gambling ban passed the Senate. The investors reacted immediately to news that the U.S. Congress had passed the legislation that banns the use of checks and credit cards for transfers of online gambling.
The shares of PartyGaming, the world's biggest online gambling company, in consequence were down about 60 percent. The online gambling company said it will pull out of the U.S. market if the US President will sign the legislation and it will become an actual law. Another major online casino said it is suspending online gambling operations in the US as a result of the bill passing. Although any kind of gambling is illegal in most of the United States, it is wide recognized in the UK.
Online and land based casinos, offering to bet on almost anything, are very popular in London and other UK cities. This fact, however, does not affect the US, unfortunately for the online gambling operators, as well as for the online gamblers themselves. The republican Senator Bill Frist is one of the politicians who have fought for years to prohibit online gambling, keep claiming that it is not legal. All is left to do is to wait and see whether President Bush will sign the bill or not. | |
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