Online Gambling May be Cut off By New Legislation
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There is a new law waiting to be signed by President Bush which was presented to Congress that is holding the $12 billion online gambling industry by a thread 220.127.116.11. It appears that Tennessee Senator Bill Frist, introduced the bill on Saturday by joining it to the Safe Port Act before Congress took its election recess in November.
The Unlawful Internet Gambling Enforcement Act that is expected to be signed by President Bush, will practically finish off all online gambling sites by making it illegal for any bank, credit card company or online payment system to process any payments being made to online gambling companies.
Surprised at the passing of this new debilitating law, the leaders in the online gambling industry took drastic measures and started to trade off stock on the London Stock exchange which erased $8 billion from the industry. PartyGaming, the world’s biggest online gambling site said that they would cease their ties with the 920, 000 active US customers they currently have only when Bush actually signs the new act.
Although the new law hasn’t yet been signed, the industry is already being drastically affected. PartyGaming’s stocks alone have dropped 60% ending up at a measly. 81 cents a share. Other sites like SportingBet and 888 Holding were also affected by the change and have since lost a lot of money on their shares. 888 Holding, for example, had a 48% decrease on their shares dropping them down to $1. 42 on the British Market and announced that it was going to no longer continue its online gambling business in the united states.
This isn’t the first Act, however, that has given the federal government power to break down the online gambling industry. Under the 1961 Wire Act, the federal government has the right to brake down online betting in sports, poker and other casino games that are considered to be illegal under the law.
This is seriously debilitating the industries economy because the US consumer market is responsible for 50-60% of the online gambling revenue. These critical laws against the online gambling site owners are forcing companies to shut down or move out but what’s clear is that they are no longer welcome in the united states.
The Madam Chairman of the Interactive Gaming Council, Sue Schneider, has predicted that over 500 companies running around 2, 300 online gambling sites around the world will be facing extinction and will most likely be wiped out of the industry all together. The small number of companies that manage to live through this incredible crisis will have to live with a huge cut back on their revenue and figure out new ways of growing again. The idea of opening up in the Asian market has become a favored idea for many. Online gambling is the new thing. As people are becoming less and less able or willing to go out of town to satisfy their desire to gamble a bit, the internet has become such a large force that people can actually gamble on the web. As far as what kind of gambling can be done online, just about anything goes from betting on basketball or football games, boxing matches, online slot machines, online poker or even blackjack.
Just as it is in real life, it is important to have a strategy when to comes to online gambling, especially if you have ambitions to become a world class professional poker player. Online gambling strategy guides are available at various sites throughout the world wide web and they provide a whole plethora of online gambling strategy tips as related to just about every niche of online gambling that there is. While it is always first and fore mostly important to trust one’s own instincts when it comes to gambling it is also important to adopt a strategy and learn tricks of the trade, as you would with any other hobby. At the casino you know which tables hit the best and which casinos are more likely to pay out the larger amounts than others, but with online gambling one must adopt a strategy to ensure that too much money isn’t lost. While some people are able to rely on online gambling as a form of non-reliable secondary income, without a strategy none of that would ever be possible. Online gambling games would just be a shot in the dark.
Where can you find these online gambling strategy guides? By putting in a simple search on the web, any search engine would pull up tons of online gambling strategy guides, as related to any of the various genres of gambling that are facilitated through the web. Narrowing it down to the games that you usually partake in and mastering the various techniques and strategies of those ones first is the best way to go about mastering the things that any of those online gambling strategy guides have to offer.
After a while, employing the use of these gambling guides can help you to learn some of the tricks of the trade, giving you the upper hand in the deal and helping you win more money. Of course, nobody should ever depend on gambling as a form of income and a reliable way to pay bills, but becoming a master of your trade is always a good idea if you must gamble, and the new interface that the world wide web has presented has truly revolutionized the way that people gamble.
There is a new law waiting to be signed by President Bush which was presented to Congress that is holding the $12 billion online gambling industry by a thread 18.104.22.168. It appears that Tennessee Senator Bill Frist, introduced the bill on Saturday by joining it to the Safe Port Act before Congress took its election…
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