The Future of i-Gaming
Posted by: Tony (63.106.72.---)
Date: July 17, 2002 12:11PM

What are some of the reasons analysts project the market for online Gaming to reach 5-10 billion dollars over the next few years, while big name companies (like Paypal and Citibank) are dropping out of the industry? Is that projection still accurate?

Re: The Future of i-Gaming
Posted by: larry (209.246.112.---)
Date: July 18, 2002 08:52AM

Tony,

The industry is going to do well. If you look at three years ago Western Union was the main source of money transfer. Next it was the credit card companies, then the pay system companies. They are moving to Pre-Paid ATM cards, debit cards, and foreign banks. Eventually, the federal government will have to end it's anti-gaming stand. Once MGM ,Harrah's start making money off shore they will also want to target US residents. The land base guys will push to end this probation. But, nothing will happen till there is big dollars on the otherside of this issue.

Re:... farther off than one would like
Posted by: MsEllaneous (---.ptld.uswest.net)
Date: September 15, 2002 02:10PM

September 05, 2002
American DOJ nixes online gambling

After many months of silence on the issue, the Bush Administration has finally made its stand clear on internet gambling. In a letter on August 23, Assistant Attorney General Michael Chertoff wrote to Nevada Gaming Control Board Chairman Dennis Neilander and indicated that Internet casino gambling is illegal under existing federal law.

Specifically, the law in question is the 1961 Wire Act, which up until now has only been used to prosecute illegal sports gambling operations, and was not applied to casino games. The decision reinforces a previous stance made by the Clinton administration on the same issue. The letter puts an end to hopes in the state of Nevada that would see them become the first state to host legal, regulated online gambling.

The move by the Department of Justice does not take into account previous case law and opinions to the contrary, which have been raised to argue that the obscure law does not in fact apply to anything outside of illegal sportsbetting. A pending case before the 5th U.S. Circuit Court of Appeals still holds a chance of supporting that limitation.



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