Some snippets from an wm in Business Week titled : Brighter Days for Online Betting?
Perhaps most important, the House Financial Services Committee is expected to hold a hearing June 8 to consider a bill that would again make it legal for banks and credit-card companies to process payments for online gambling sites, potentially allowing Europe’s online gambling companies to do business again in the U.S. market.
I can’t think of a better thing for internet poker than the return of Party and easier depositing options for the dead money donks. I almost started crying tears of joy at the thought of this.
Though it’s far too early to pop the champagne—few Washington observers think the bill has a chance of passing right away
Sigh. It would be nice though.
Analysts in Europe say a change in the current situation is inevitable. Why? In part because even though the U.S. ban forced publicly traded companies like PartyGaming and 888 Holdings to pull out of the U.S., the void was quickly filled by private outfits offering unregulated online gaming services to U.S. customers.
I agree a change to the current situation is inevitable, but I am not sure the next change will be our favor. We can hope though.
With lots of offshore gambling services continuing to target U.S. customers, the total spent by U.S. citizens gambling online has decreased by only 20% since the ban went into effect, says Professor Leighton Vaughan Williams, director of the Betting Research Unit at Britain’s Nottingham Business School.
20% less donks, yes the games aren’t as easy as they were.
For one thing, under new legislative scenarios, European companies probably would have to set up operations in the U.S. and agree to pay U.S. taxes. They also would likely face stiff competition from new competitors in Las Vegas, which could be allowed to launch brand-name online gambling services for the first time, Barton says.
So not only would we get Party back, we would get a bunch of new sites too! All pounding TV, Radio, magazines, newspapers, billboards, the internet, etc. with advertising brining the old donkeys back and whole bunch of new ones. Wow, what a beautiful dream.
Probably won’t mean much, but every positive step is a good thing. It is good to see there is a chance that this situation will end with a rational solution.
Note: Wanted to thank Zaigezunt for sending me the link to this article. Also mad props for final tabling both $100 rebuys on Stars yesterday. So sick!
