online gambling websites |
| Not all the news about online gambling websites is always good! On Friday September 13th, 2006 President Bush signed the Safe Port Authority bill. Slyly tacked on to the end of the bill was a completely unrelated amendment regarding internet gambling. The anti-internet gambling amendment bans all direct deposits from banks or credit cards into online gambling websites, online casinos, poker rooms, and sports books. It makes the actual bet a crime via the bettor. There is a huge gaping loophole in the form of third party processors, such as Neteller, who are not located in the United States, but that is already becoming irrelevant since every major online casino company is now banning US residents from their sites. The few who are not banning US residents are typically not the kind of casino, poker room, or sports book you should deposit money to. The first online gambling websites arrived on the internet in 1996 and the industry soared to approximately $12 billion dollars a year in the space of ten years. Industry experts estimate that up to eighty percent of that income came from the United States. Now that the US is out of the picture, online gambling is almost back to square one. Next year the revenue will be a pathetic fraction compared to what the industry took in this year. The stocks in the online gambling websites are dropping fast and this may be a good time to buy. Well, perhaps not the perfect time. Maybe next year, after the first quarter results are announced and everyone can see exactly how bad things are and the stock dives, perhaps then would be the right time. Either way, between now and then would be a good idea to buy some stock. |
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