| | |  | Last Updated: Wednesday, February 27, 2008 |  | | | Times Runs a Piece about Online Gambling
- Wednesday, 28 Dec 2005
Online gambling has had successfully penetrated to mainstream America. If you want proof of that just look at all the media coverage it has been getting the past couple of months. Last month the online gambling industry was showcase on the reputable CBS news 60 Minutes. TV is not the only medium in which online gambling and online casinos have received coverage. This week, the New York Times ran a piece on the online gambling, discussing the legal issues surrounding the industry. This is a major achievement for online casinos to appear on such a mainstream news publication, such as the Times.
In his article, Matt Richtel points out the reality in which online casinos continue to generate solid investment by top Wall Street firms despite being illegal in the US. According to the article, some of most prominent investment houses hold millions of dollars in shares of online gambling sites that trade their stocks on the London Stock Exchange. The article also points out how the reasons for the continued investment in online gambling facing current federal policy.
Richtel explains, “The growing participation by American investors underscores a striking gap between the federal law-enforcement position on online casino gambling and the realities behind what has emerged as a booming business. It also highlights the difficulty of policing cross-border activity in the Internet age at the same time that electronic commerce and a global economy are creating fast economic partners across national boundaries”. | |
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