CNN – Gambling online? You bet!

“Since there are no controls at present regarding Internet wagering, I would urge investors to shun these firms at present,” he says. They almost always include slots, blackjack and video poker, but many sites carry more exotic games, from baccarat to pai gow.

The amount spent on Internet gambling is harder to calculate.

Does the seeming invincibility of online gambling make it an enticing business? Jason Ader of Bear Stearns, urges caution. Estimates range from $650 million to $1 billion a year, worldwide – a tiny fraction of the amount spent on more traditional formats.

All the sites indicted by the U.S. For one thing, gambling from one’s home allows for a variety of techniques that would get one tossed out of a regular casino. The Justice Department doesn’t think that online casinos (including those that offer gambling on sports events) can legally conduct business in the United States, even if they are based in places where gambling is legal. attorney’s office theoretically operate out of the Caribbean. Attorney White has proceeded slowly and quietly. Today, a roster on one “gambling portal” site lists well over 200. That partnership leads many observers to believe that an online casino – using Microsoft platforms, of course – is in the works. In most cases, this means operating out of Australia. He claims Inland’s Internet gambling business went slightly into the black in March, on annualized revenues of about $1 million.

Although it uses a CryptoLogic template similar to several other online casinos, Kennyrogerscasino.com may be unique in letting bettors wager as little as a penny at a time. Even the precise number of online casinos is hard to calculate. “And it is possible that records could be subpoenaed of various banks where these companies maintain accounts.”

The office of U.S.

Today, Americans spend some $600 billion a year on legal gambling, making it by far the favored national pastime. But according to Inland CEO Don Speer, elusive profits need not be one of them. The vast majority of customers will satisfy their demand for commercial gambling through less onerous and risky alternatives, such as lotteries, bingo, pari-mutuels and casinos.”

Internet Gambling Worldwide, Past and Future

Is Microsoft betting too?

The potential action is too compelling for even the largest tech tycoons to resist. I’ve not had problems being paid.”

Take Interactive Gaming and Communications, another publicly traded company, located in Blue Bell, Pa. Nor would it prohibit online fantasy sports leagues, online lotteries in states where they are legal, or online betting on any live horse race where it would otherwise be lawful to wager. Together, these sites have about 4,300 registered customers in 96 countries around the world. In the ’70s, Atlantic City legalized casino gambling; in the ensuing decades, state lotteries, Indian casinos, gaming ships, offtrack betting parlors and card clubs have sprouted across the landscape. Almost all online gambling sites work the same. That may suggest that, as some legal observers have argued, the 1961 federal Wire Act is too old and too loosely written to prohibit online gambling. O’Brien observes in Bad Bet, his comprehensive account of America’s gambling industry, “Judging by dollars spent, gambling is now more popular in America than baseball, the movies and Disneyland combined.”

Running an online casino carries all the usual challenges of Internet businesses, from low click-through rates to servers that fail. (However, an HBO sports program attempted to locate one of these ventures in Aruba, and ultimately found that the genuine server was in a residential neighborhood in Bethlehem, Pa.) And the Caribbean nations would like to keep their haven status. FBI agents placed bets on games – uniformly National Football League matches, although many other options are available – and followed up, whether they won or lost.

The prosecutors’ focus on sports bets appears to stem from legal precedent in the law they relied on.

First, legislation should treat physical activity and cyberactivity in the same way. Says Opel, “Bringing in the big names and established companies only adds credibility and visibility to what we’re already doing.”

Is it legal?

A few hurdles have to be cleared before such ventures can take off – beginning with the federal government. For decades, Vegas was about the only legal option for gamblers. “I wager on football games and usually bet in the neighborhood of $1,000 every weekend. Like the Communications Act passed in the 1930s, technology has now leapfrogged the law. The Wire Act obviously has no mention of wagering over the Internet. Even the firms that have enjoyed some stock-price popularity – such as Youbet.com – have shaky fundamentals. “The telephone is being used to facilitate these wagers and I believe the government has a solid case,” explains Tony Cabot, a Las Vegas-based gaming lawyer and author of a book on Internet gaming. Her higher-ups in the Justice Department appear to agree. has had little cooperation from any other nation. But as more and more traditional firms become involved, the consumer will look for the brand name. In January, MegaSports began taking Internet bets from Australians; it expects soon to allow global gambling on sporting events. But the travails associated with fending off lawsuits have essentially put the company out of business. Failure to account for that specificity in legislation could stifle the Internet’s growth or chill its use as a communications tool. That figure exaggerates the size of the Internet gambling sector, since some companies operate more than one online betting parlor. If, on the other hand, an activity is in the physical world – betting on horses, or casino betting with Indian tribes – it becomes subject to federal criminal sanction when it occurs in cyberspace. The Standard obtained a Department of Justice analysis of the bill S. In a highly publicized March 1998 “raid,” Mary Jo White, the U.S.

The original version of Kyl’s bill failed most of these tests.

Prosecutors focus on sports betting

Intriguingly, though, all the bets that make up the U.S. The defendants, many of whom live abroad, were threatened with up to five years in prison and $250,000 fines. Blackjack players can very easily count cards, or even consult odds charts; the Kennyrogerscasino.com site actually has a printable chart showing the best strategy for every possible hand of blackjack. Passed during the term of crime-fighter Attorney General Robert Kennedy, the law was intended to outlaw betting over telephone lines. . Legislators have considered enlisting Internet service providers to patrol for undesirable sites, although Internet gambling insiders consider that proposal dead on arrival. Legislation tied to a particular technology may quickly become obsolete and require further amendment. In 1998, the Senate passed, by a large margin, an amendment prohibiting Internet gambling, but that bill died before becoming law.

But the growing acceptance of online betting and the Internet’s inherent ability to shatter jurisdictions bring the inconsistencies of American gaming law to a boil.

Nonetheless, some experts think the case could be made to stick.

More than a year later, however, no cases have come to trial, and nine defendants have accepted plea bargains for state misdemeanor charges with no jail time. Tony Cabot, an attorney specializing in gaming issues, says flatly, “When you see Kerry Packer get together with Microsoft, you have to believe there is a future for this type of wagering.”

So how is it that these companies appear to operate legally, but a dozen Caribbean cowboys found themselves under felony indictment?

But over the last several months, at least some traditional casinos have pursued the time-honored strategy of joining an Internet gambling trend that they can’t beat. One of Microsoft (MSFT)’s less-publicized adventures is Ninemsn, an Australia-based Internet service to which Bill Gates has pledged tens of millions of dollars. attorney for the Southern District of New York, indicted 14 managers of six Internet companies for offering gambling on their sites. According to an analysis by Sue Schieder of Rolling Good Times, the online gambling magazine, the new legislation would not punish the casual bettor. A Ninemsn spokesperson says that the site does not now offer online gambling and would not comment on future plans. His equal partner is Australian tycoon Kerry Packer of the Crown Casino in Victoria. The minimum amount to begin an account varies. Casino games are available on a site or via downloadable software. Justice believes that any legislation addressing criminal misuse of computers or computer systems (including the Internet) should have three vital characteristics.

Second, legislation should be technology-neutral. Why should it be legal to bet online on a horse race in another state, but not legal to bet on a basketball game in one’s own state? If Native American tribes can establish new, legal, physical places where adults can gamble, why shouldn’t someone be able to do the same in cyberspace?

Similarly, the Las Vegas-based public company American Wagering, owner of Leroy’s Horse and Sports Place in Nevada, also operates a sports gambling site located in Canberra called MegaSports (www.megasports.com.au).

It’s not because they operate in any fundamentally different way. The American Gaming Association, a trade group of gaming firms, maintains this view regarding online wagering: “The industry has been state-regulated and we think it should remain that way. And for sports bettors – who make up a majority of online gamblers, according to industry insiders – the ease of using cyberbookies can’t be beat. Inland, for example, operates two Web sites in addition to the one bearing Kenny Rogers’ likeness: Casinoaustralia.com and Goodluckclub.com. But following a 1997 indictment, the state of Missouri settled a suit against the company and its president, Michael Simone, for about $35,000.

But even if Congress comes up with the best-crafted legislation in history, there are significant factors beyond its control. In 1997, published reports put the total number of operating online casinos at 15. Would-be wagerers open an account with a credit card, although some sites also accept cash and cashier’s checks. Kyl introduced a revised version earlier this year, removing some of the more onerous and hard-to-enforce provisions. 474, introduced into the Senate by Arizona’s John Kyl in 1997 as the Internet Gambling Prohibition Act. One Australian state, Queensland, is already awarding licenses for online gambling, and others may follow soon. to gain access to offshore sites,” says Sebastian Sinclair of Christiansen/Cummings. … “Think about what would happen to Wal-Mart (WMT), General Motors or Microsoft if these companies had to continue to dodge federal roadblocks to access their customers,” says Sebastian Sinclair, senior associate at Christiansen/Cummings Associates, a management consulting firm. As Timothy L. Says Sinclair of Christiansen/Cummings: “You are going to feel more comfortable wagering with a Hilton than you will with Joe’s Casino.”

Finally, the DoJ believes that any federal law must recognize that the Internet is different from other communications media: It’s a multifaceted communications medium that allows for both point-to-point transmission between two parties (like the telephone), as well as the widespread dissemination of information to a vast audience (like a newspaper). Their case is based on the 1961 Wire Act. “I use the service because it’s convenient and I have access to it when I want,” says one online gambler. Bets generally range from $1 to as much as $300. If an activity is prohibited in the physical world but not on the Internet, the Internet becomes a safe haven for that criminal activity. “Federal legislation will make it difficult but not impossible for Internet gamblers in the U.S. Packer is a man with a voracious gambling appetite. Aruba, for one, is refusing to extradite any indicted individuals to the U.S., and thus far the U.S. The Internet is presently unregulated and we support a federal law regulating Internet gambling.”

Gambling is as at least as old as Christianity (that is, if Ben Hur can be trusted). (The company did not respond to repeated requests for an interview.)

Group calls for regulation of Net gambling

For years, another barrier to the growth of Internet gambling has been strong opposition from those most threatened by gambling sites: legal American casinos. White’s hesitancy suggests that the law may not be as solid as she thought when she indicted. attorney’s case involved the casinos’ sportsbooks. “We get daily reports, and you’ll see these people who spend a couple of hours gambling, and the total amount they bet is like $1.81,” says Thomas Holmes, Inland’s head of technology.

But a hard-core base will continue to turn to Internet betting for its clear advantages. citizens, it will be increasingly tempting for them to turn to locations abroad. About 2,000 years later, Bugsy Siegel took the concept a step further and built the Flamingo Hotel in the desert town of Las Vegas. In November 1998, for example, a division of Hilton Hotels acquired the company that runs Centrebet, a Web and telephone sports-wagering system based in Australia (www.centrebet.com.au).

If such gamblers are not satisfied by options available to U.S. Anyone over the age of 18 can set up an account with Centrebet and place money on a variety of worldwide sporting events, including U.S. college and professional sports. That makes for an Internet gambling environment too porous for U.S law enforcement to plug. “Ultimately, Internet gambling operators are selling a product.

One major barrier to profitability is the law. But they say the more bettors, the better.

You might think that the prospect of competing against the likes of Microsoft would terrify a $20 million company like Inland. (The company’s Indian casino and Web-development divisions make more.) “This is the really exciting point, because I know where it goes from here,” Speer said in an interview. At one point, Interactive Gaming looked like it could be an industry leader

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These dreamers included, among many others, German Chancellor Konrad Adenauer and British Prime Minister Winston Churchill1. It starts by focusing on two of those incarcerated,  Floyd Lawton/Deadshot (Will Smith, After Earth, Focus, Men in Black 3) and Dr. If you’re sure a page should be here, send us an email and we’ll get to the bottom of this.

What is the EU and Why Brexit? A Historical Perspective

by HLesley. Try searching IB for it (right up there in our nav bar), or maybe one of the articles below will fit your fancy.

Today, the first Saturday since Pokemon Go’s launch, on Reddit one of the top upvoted posts in the r/showerthoughts section and staple on the front page throughout the day was that the real winner of Pokemon Go were the service providers after everyone goes over their data limit.

Truer words have never been posted on Reddit.

Pokemon…

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As technology continues to speed forward at an incredibly rapid pace, society is getting “smarter”. One of the origin stories involves Marie Antoinette sending pet cats of hers to America in anticipation of an escape from France.[1] As the story goes, though Marie Antoinette didn’t make it…

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Rise of the Internet of Things – How ‘Smart’ of a World Should We Build?

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Could be a bad link or an error in the address. While there are lots of differences, one thing has been increasingly becoming more common and constant. Harleen Quinzel/Harley Quinn (Margot Robie), but all that really…

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History

The precise origins of the Maine Coon are a mystery. All are steadily becoming Internet-ready.

Even appliances.

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Throughout history the European family has constantly fought over culture, religion and territory.

 

But after the devastation of two world wars there were some who dreamed that it need not always be so. who envisaged a “United States of Europe”4.

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Pokemon Go: How To Save Your Mobile Data Plan

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Suicide Squad opens at a black site, a prison (apparently in Louisiana) where “special” prisoners are incarcerated. A number of legends have become popular that supposedly explain the breed’s beginnings. The consumer market is flooded with gadgets, either for entertainment or practical purposes, and these are diverse in nature

Casino-Gaming :: Online Gambling At Auto Racing (Page 1 of 2)

Among the most common is the Win Bet. A bettor will have been considered to win such a bet only if their selected car finishes the race in first place. This involves the bettor selecting the winner of any given race. Auto racing betting is also can be called auto racing or motor racing betting. Betting online in auto racing are a good fit and will keep every fan glued to their seat or the television. It will help to increase car racing betting odds then. In general terms, Formula 1 has pre-eminence in Europe, whilst NASCAR and Indy Car racing has a greater popularity in the US. In addition, every disqualification that happens more than half an hour after the end of the qualifying session will be disregarded in terms of betting purposes. In the event that two drivers in a bet record the same time which reduced to the nearest 1,000th of a second, the betting ‘match-up’ will be considered a no action, and all bets will be returned to the bettors. For successful betting it is necessary to develop knowledge about car racing betting as much as possible: to learn more about drivers, teams, tracks and even about car racing history.

In terms of the actual bet itself, there are a number of different betting types. Once the first practice commences, all bets on qualifying match-ups are pronounced closed.

Online betting is a favorite pastime and a source of excitement for many people all over the world. If auto racing is your favorite kind of sports, you can try to bet and even earn some money on it. In order to win this bet, your chosen car can finish either first or second; giving the bettor, obviously, a slightly better chance of winning.

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Auto racing is about speed, aerodynamic automotive technology, powerfully engineered engines, aggressive drivers with lightning reflexes and about the thrill of watching spectacular races unfold with winning bets on the successful racing teams and drivers. Auto racing free download games are easily available in the Internet.

Auto racing games can become a good entertainment without any money losses for those who are fond of this kind of sports.

Bear in mind that if a race is postponed, all bets remain valid for only 48 hours. Besides entertainment these games train such qualities, as attentiveness, sense of motion, fast reaction and so on. If the period of postponement extends beyond this 48-hour period, then all bets are declared ‘no action’ and are subsequently refunded to bettors. One might also choose a Place Bet, which means choosing the race runner-up. Each kind of such entertainment has a special online betting strategy and its own secrets.

Sports betting events always attract people’s attention, this fact explains a great popularity of this kind of gambling. With the advent of increased television coverage, betting lines have opened wide.. No matter what you choose, online casino or sports betting, every variant is thrilling in its own way. It is difficult to describe all peculiar features shortly, so it is much better to try them and make own conclusions. A lot of practice will help to know necessary betting tips and nuances. In turn all that can give the advantage in predicting of online betting odds.

Auto racing is now one of the most popular and widely followed sports in the US, with interested parties being able to bet on a number of different auto racing leagues, from Formula 1 to Indy Car and NASCAR. It is one of the most wide-spread kinds of sports betting

How the Sports Betting Line is Made by RJ Bell

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line “feels right.” This is where common sense and past experience with how games are bet enters into the picture.

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public.

RJ Bell

©Pregame.com 2006

Website: http://www.Pregame.com

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. In doing so they attempt to make more attractive the team that is getting less action. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years.

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a “preliminary” pointspread on an upcoming game. This usually includes having up-to-date power ratings on each team. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite. The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action. The power ratings are adjusted after each game a team plays. We do this by drawing from past experiences and applying them to current situations. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.

“The main objective is that our clients get equal action on both sides,” Seba said.

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

Contributed by:

“You either have a passion for it or you don’t,” Seba said. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error. Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’). Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Moving the line is the oddsmaker’s effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Reasons for such adjustments include:

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team’s most recent games played and previous games played against that opponent. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather.

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10). Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. If we’ve done that, we’ve done our job.”

Once betting begins, sportsbooks can adjust the line at any time. People think it’s much more complicated, but it’s not.”

. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor).

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Of course there is an entire method to the madness on how the opening line is created. By moving the line, sportsbooks can influence how the public bets on a particular game.

What Is the Line Trying to Accomplish?

How the Opening Line Is Made

Experts working for the individual books having a strong opinion on the game

Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. For example, the public might have heavy betting interest week after week on a popular college football team such as USC.

Why the Line Changes

Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account.

“The #1 thing for us is to make a line for each game that creates good two-way action. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line

CNN – Gambling online? You bet!

The vast majority of customers will satisfy their demand for commercial gambling through less onerous and risky alternatives, such as lotteries, bingo, pari-mutuels and casinos.”

But a hard-core base will continue to turn to Internet betting for its clear advantages. Her higher-ups in the Justice Department appear to agree. to gain access to offshore sites,” says Sebastian Sinclair of Christiansen/Cummings. Says Sinclair of Christiansen/Cummings: “You are going to feel more comfortable wagering with a Hilton than you will with Joe’s Casino.”

But the growing acceptance of online betting and the Internet’s inherent ability to shatter jurisdictions bring the inconsistencies of American gaming law to a boil. attorney’s case involved the casinos’ sportsbooks. Today, a roster on one “gambling portal” site lists well over 200. Bets generally range from $1 to as much as $300. But according to Inland CEO Don Speer, elusive profits need not be one of them. Together, these sites have about 4,300 registered customers in 96 countries around the world. For one thing, gambling from one’s home allows for a variety of techniques that would get one tossed out of a regular casino. Nor would it prohibit online fantasy sports leagues, online lotteries in states where they are legal, or online betting on any live horse race where it would otherwise be lawful to wager. Justice believes that any legislation addressing criminal misuse of computers or computer systems (including the Internet) should have three vital characteristics.

One major barrier to profitability is the law. Their case is based on the 1961 Wire Act. White’s hesitancy suggests that the law may not be as solid as she thought when she indicted. “I wager on football games and usually bet in the neighborhood of $1,000 every weekend. And for sports bettors – who make up a majority of online gamblers, according to industry insiders – the ease of using cyberbookies can’t be beat. But as more and more traditional firms become involved, the consumer will look for the brand name. So how is it that these companies appear to operate legally, but a dozen Caribbean cowboys found themselves under felony indictment?

Gambling is as at least as old as Christianity (that is, if Ben Hur can be trusted). They almost always include slots, blackjack and video poker, but many sites carry more exotic games, from baccarat to pai gow.

Running an online casino carries all the usual challenges of Internet businesses, from low click-through rates to servers that fail. Attorney White has proceeded slowly and quietly. His equal partner is Australian tycoon Kerry Packer of the Crown Casino in Victoria. That makes for an Internet gambling environment too porous for U.S law enforcement to plug. “Ultimately, Internet gambling operators are selling a product. If an activity is prohibited in the physical world but not on the Internet, the Internet becomes a safe haven for that criminal activity.

Nonetheless, some experts think the case could be made to stick. In January, MegaSports began taking Internet bets from Australians; it expects soon to allow global gambling on sporting events. Casino games are available on a site or via downloadable software. The Justice Department doesn’t think that online casinos (including those that offer gambling on sports events) can legally conduct business in the United States, even if they are based in places where gambling is legal. “The telephone is being used to facilitate these wagers and I believe the government has a solid case,” explains Tony Cabot, a Las Vegas-based gaming lawyer and author of a book on Internet gaming. The American Gaming Association, a trade group of gaming firms, maintains this view regarding online wagering: “The industry has been state-regulated and we think it should remain that way.

That partnership leads many observers to believe that an online casino – using Microsoft platforms, of course – is in the works. Says Opel, “Bringing in the big names and established companies only adds credibility and visibility to what we’re already doing.”

Is it legal?

A few hurdles have to be cleared before such ventures can take off – beginning with the federal government.

The office of U.S. Like the Communications Act passed in the 1930s, technology has now leapfrogged the law. (The company’s Indian casino and Web-development divisions make more.) “This is the really exciting point, because I know where it goes from here,” Speer said in an interview. The Wire Act obviously has no mention of wagering over the Internet. The defendants, many of whom live abroad, were threatened with up to five years in prison and $250,000 fines. O’Brien observes in Bad Bet, his comprehensive account of America’s gambling industry, “Judging by dollars spent, gambling is now more popular in America than baseball, the movies and Disneyland combined.”

Although it uses a CryptoLogic template similar to several other online casinos, Kennyrogerscasino.com may be unique in letting bettors wager as little as a penny at a time. “We get daily reports, and you’ll see these people who spend a couple of hours gambling, and the total amount they bet is like $1.81,” says Thomas Holmes, Inland’s head of technology. Aruba, for one, is refusing to extradite any indicted individuals to the U.S., and thus far the U.S. FBI agents placed bets on games – uniformly National Football League matches, although many other options are available – and followed up, whether they won or lost. Kyl introduced a revised version earlier this year, removing some of the more onerous and hard-to-enforce provisions. (However, an HBO sports program attempted to locate one of these ventures in Aruba, and ultimately found that the genuine server was in a residential neighborhood in Bethlehem, Pa.) And the Caribbean nations would like to keep their haven status. Almost all online gambling sites work the same. Estimates range from $650 million to $1 billion a year, worldwide – a tiny fraction of the amount spent on more traditional formats. Would-be wagerers open an account with a credit card, although some sites also accept cash and cashier’s checks. attorney for the Southern District of New York, indicted 14 managers of six Internet companies for offering gambling on their sites. Even the precise number of online casinos is hard to calculate. Why should it be legal to bet online on a horse race in another state, but not legal to bet on a basketball game in one’s own state? If Native American tribes can establish new, legal, physical places where adults can gamble, why shouldn’t someone be able to do the same in cyberspace? . One of Microsoft (MSFT)’s less-publicized adventures is Ninemsn, an Australia-based Internet service to which Bill Gates has pledged tens of millions of dollars. Tony Cabot, an attorney specializing in gaming issues, says flatly, “When you see Kerry Packer get together with Microsoft, you have to believe there is a future for this type of wagering.”

Finally, the DoJ believes that any federal law must recognize that the Internet is different from other communications media: It’s a multifaceted communications medium that allows for both point-to-point transmission between two parties (like the telephone), as well as the widespread dissemination of information to a vast audience (like a newspaper). citizens, it will be increasingly tempting for them to turn to locations abroad. In 1997, published reports put the total number of operating online casinos at 15. (The company did not respond to repeated requests for an interview.)

Group calls for regulation of Net gambling

For years, another barrier to the growth of Internet gambling has been strong opposition from those most threatened by gambling sites: legal American casinos. college and professional sports. In 1998, the Senate passed, by a large margin, an amendment prohibiting Internet gambling, but that bill died before becoming law. In the ’70s, Atlantic City legalized casino gambling; in the ensuing decades, state lotteries, Indian casinos, gaming ships, offtrack betting parlors and card clubs have sprouted across the landscape. About 2,000 years later, Bugsy Siegel took the concept a step further and built the Flamingo Hotel in the desert town of Las Vegas.

The original version of Kyl’s bill failed most of these tests. He claims Inland’s Internet gambling business went slightly into the black in March, on annualized revenues of about $1 million.

The amount spent on Internet gambling is harder to calculate. But the travails associated with fending off lawsuits have essentially put the company out of business. The minimum amount to begin an account varies. The Standard obtained a Department of Justice analysis of the bill S. has had little cooperation from any other nation. “Since there are no controls at present regarding Internet wagering, I would urge investors to shun these firms at present,” he says. As Timothy L. One Australian state, Queensland, is already awarding licenses for online gambling, and others may follow soon. Even the firms that have enjoyed some stock-price popularity – such as Youbet.com – have shaky fundamentals. “Federal legislation will make it difficult but not impossible for Internet gamblers in the U.S. … That may suggest that, as some legal observers have argued, the 1961 federal Wire Act is too old and too loosely written to prohibit online gambling. Anyone over the age of 18 can set up an account with Centrebet and place money on a variety of worldwide sporting events, including U.S. According to an analysis by Sue Schieder of Rolling Good Times, the online gambling magazine, the new legislation would not punish the casual bettor. At one point, Interactive Gaming looked like it could be an industry leader. But they say the more bettors, the better.

All the sites indicted by the U.S. “And it is possible that records could be subpoenaed of various banks where these companies maintain accounts.”

Similarly, the Las Vegas-based public company American Wagering, owner of Leroy’s Horse and Sports Place in Nevada, also operates a sports gambling site located in Canberra called MegaSports (www.megasports.com.au). Failure to account for that specificity in legislation could stifle the Internet’s growth or chill its use as a communications tool. 474, introduced into the Senate by Arizona’s John Kyl in 1997 as the Internet Gambling Prohibition Act.

Does the seeming invincibility of online gambling make it an enticing business? Jason Ader of Bear Stearns, urges caution.

Take Interactive Gaming and Communications, another publicly traded company, located in Blue Bell, Pa.

But over the last several months, at least some traditional casinos have pursued the time-honored strategy of joining an Internet gambling trend that they can’t beat.

Is Microsoft betting too?

The potential action is too compelling for even the largest tech tycoons to resist. For decades, Vegas was about the only legal option for gamblers. Legislation tied to a particular technology may quickly become obsolete and require further amendment. That figure exaggerates the size of the Internet gambling sector, since some companies operate more than one online betting parlor. In a highly publicized March 1998 “raid,” Mary Jo White, the U.S. In most cases, this means operating out of Australia. In November 1998, for example, a division of Hilton Hotels acquired the company that runs Centrebet, a Web and telephone sports-wagering system based in Australia (www.centrebet.com.au).

Internet Gambling Worldwide, Past and Future

Second, legislation should be technology-neutral.

More than a year later, however, no cases have come to trial, and nine defendants have accepted plea bargains for state misdemeanor charges with no jail time.

Prosecutors focus on sports betting

Intriguingly, though, all the bets that make up the U.S.

It’s not because they operate in any fundamentally different way. But following a 1997 indictment, the state of Missouri settled a suit against the company and its president, Michael Simone, for about $35,000.

You might think that the prospect of competing against the likes of Microsoft would terrify a $20 million company like Inland. Passed during the term of crime-fighter Attorney General Robert Kennedy, the law was intended to outlaw betting over telephone lines. I’ve not had problems being paid.”

Today, Americans spend some $600 billion a year on legal gambling, making it by far the favored national pastime. Packer is a man with a voracious gambling appetite.

But even if Congress comes up with the best-crafted legislation in history, there are significant factors beyond its control.

If such gamblers are not satisfied by options available to U.S. Legislators have considered enlisting Internet service providers to patrol for undesirable sites, although Internet gambling insiders consider that proposal dead on arrival. A Ninemsn spokesperson says that the site does not now offer online gambling and would not comment on future plans. attorney’s office theoretically operate out of the Caribbean. If, on the other hand, an activity is in the physical world – betting on horses, or casino betting with Indian tribes – it becomes subject to federal criminal sanction when it occurs in cyberspace.

The prosecutors’ focus on sports bets appears to stem from legal precedent in the law they relied on. Blackjack players can very easily count cards, or even consult odds charts; the Kennyrogerscasino.com site actually has a printable chart showing the best strategy for every possible hand of blackjack. The Internet is presently unregulated and we support a federal law regulating Internet gambling.”

First, legislation should treat physical activity and cyberactivity in the same way. Inland, for example, operates two Web sites in addition to the one bearing Kenny Rogers’ likeness: Casinoaustralia.com and Goodluckclub.com. “I use the service because it’s convenient and I have access to it when I want,” says one online gambler. “Think about what would happen to Wal-Mart (WMT), General Motors or Microsoft if these companies had to continue to dodge federal roadblocks to access their customers,” says Sebastian Sinclair, senior associate at Christiansen/Cummings Associates, a management consulting firm

Online Gambling’s Good for U.S.

Ironically the anti-Bodog crackdown comes as the push for sensible regulation of the online gambling industry is gathering serious political momentum.

In recent years, it’s become clear to a growing number of policymakers, including Senate Majority Leader Harry Reid, that the ban on online gambling is a failure. Increased competition results in a more efficient allocation of resources, as gambling providers attempt to maintain and attract new customers.

Banning online gambling in the domestic American market simply results in the establishment of Internet gaming sites overseas.

The Internet has revealed the potential of technology not only to dramatically increase existing gambling opportunities but also to introduce new ones. Stopping American online gambling is truly mission impossible, with a vast number of insurmountable challenges facing governments that endeavor to criminalize online gambling.

Another major benefit of allowing online gambling is that competition will be introduced into a highly regulated marketplace dominated by licensed providers who monopolize the gaming market. This is especially true given service providers’ unrestrained access to overseas Internet sites in jurisdictions without online gambling restrictions.. Many federal and state-level politicians want to legalize online gambling, which Congress made illegal in 2006.

Two additional factors contribute to the inevitable failure of prohibition. With legal online gambling, competition among operators would increase to such an extent that they will be forced by the marketplace, rather than by governments, to offer a reduced house advantage.

Federal prosecutors just dealt consumer freedom a terrible hand, shutting down the gambling website Bodog.com and indicting four company executives, including founder Calvin Ayre, for alleged illegal gambling that actually generated $100 million in customer winnings. Including unlicensed sites, the total rose to 6,000. In addition, the technological and human capital required to locate offenders is substantial, as are the costs of prosecution and incarceration. The online gambling industry is merely another form of commerce where prohibition is the wrong option.

Second, consumer demand for online gambling and the government’s demand for tax revenues will create enormous pressure for legalization in any jurisdiction, such as the U.S., that currently operates a domestic ban.

Prohibitionists appear to ignore the fact that most gambling sites, like any reputable business, rely on customer loyalty to remain profitable. The principal benefit of regulation to online players is the personal and legal security of funds, whereas currently players in unregulated environments have no legal recourse over matters such as suspected cheating and frozen assets.

Patrick Basham is a Cato Institute adjunct scholar. The ill-advised indictments handed down against Calvin Ayre and his Bodog colleagues cannot alter that fact. As other jurisdictions identify the demand for online gambling, they have supplied this service to consumers.

For example, in 2009 there were 2,381 sites run by 493 companies licensed in 50 jurisdictions worldwide. If the domestic marketplace demands online gambling, which it clearly does, it will be supplied with or without government consent. First, online technology renders prohibition futile. The necessity of maintaining a strong customer base would motivate legal American service providers to offer legitimate, reputable gambling sites.

In 2008, the global online gambling market was valued at $20 billion annually, with 50 percent of that demand coming from the U.S.. Many of these sites were established in small nations with little or no regulatory oversight.

This form of gambling also encourages private sector businesses to develop network capacity and commerce. As such, the Internet offers potential consumers convenient and inexpensive access to their favorite gambling sites, introducing competition into an industry once dominated by highly restrictive licensing practices.

A great degree of surveillance is required to detect online illegality, and there are significant difficulties in locating, investigating, and prosecuting online offenders. Not only will this increased competition result in a wider range of gambling activities, it will reduce cost to consumers. Along with the inefficient use of resources caused by prohibition, there’s the danger of unintentionally increasing the criminal element.

The current prohibitionist law is really a protectionist measure designed to support specific domestic operators, such as the websites run by the horse betting industry. As an international network, the Internet provides an instant detour around domestic prohibition.

Online gambling can be regulated effectively and without excessive cost, to standards that will provide strong protections for consumers and vulnerable players. He coauthored (with John Luik) the Democracy Institute book, Gambling: A Healthy Bet.

Gambling is one of the great successes of online commerce