Sport gambling on the rise
The sports gambling industry is now a $400 billion monster of legal and illegal activity worldwide.
Globally, $12 billion was spent on online gambling last year, $4.3 billion of it in sports bets, according to gambling-industry analyst Christiansen Capital Advisors. By 2010, revenue from online gambling is expected to hit $24.5 billion.
Clay was a senior in high school when he made that first bet. Now, the Nashville native makes a living betting on sports. He has a bookie, overseas accounts, a system and instinct.
In mid-October, PresidentBush signed into law the Unlawful Internet Gambling Enforcement Act, which is meant to stop people like Clay from being able to place bets by making it illegal for U.S. regulated banks and financial institutions to transfer money to Internet gambling sites.
However, many gamblers like Clay have already succeeded in finding ways around that ban, such as using e-Wallets (like Neteller) provided by companies not under U.S. jurisdiction and not subject to the new law.
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- FanSpot.com has been launched this week by the company who is extending their business ventures from publishing sports pricing guides
- The US crackdown on online gambling is a "new prohibition", which is likely to fuel a rise in fraud and
- Delegates from Britain, France, Germany, Spain, Italy, South Africa will attend the meeting at the Royal Ascot racecourse outside London
- New surveys have shown that the number of women gambling in online casinos has risen considerably over the last few
I remember those days, when Neteller was king…
Don’t we have too many wars? War on Drugs. War on Terror. What will a War on Gambling do except cost us more in taxes and frustration. As long as we wager with our own money, as long as we don’t hurt anyone around us, no government should be able to tell us what we can do with our money. It’s ours!
And as for the terrorist argument, that they use gambling sites to launder money…I guess terrorists don’t have anything to do with horses which is still legal online. I mean, how does that make sense?