The largest potential change will be in the United States, where Representative Barney Frank, Democrat of Massachusetts, is likely to introduce legislation within days, aimed at overturning the Unlawful Internet Gambling Enforcement Act. “He supports it and wants to go forward onto it,” said Steve Adamske, communications director for the House Financial Services Committee, of which Mr. Frank is chairman. “There is of gambling where no revenue coming in to the governments,” said Gavin Kelleher researcher at H2 Gambling Capital in Ireland.
Mr. Frank failed to do this once before, in 2007 but advocates of liberalization think they might obtain a friendlier hearing in Washington this time. President Barack Obama, boasted of his poker prowess through the election campaign and the Democrats, who’re seen as less hostile to Internet gambling compared to Republicans, have tightened their grip on Congress.
Analysts say that could be getting a little bit in front of the game. Opponents of a repeal, such as the Christian Coalition of America and the National Football League, have vowed to fight any effort to end the ban. Michele Combs, a spokeswoman for the Christian Coalition, said the group was gearing up for a huge campaign of letter-writing and lobbying to try to prevent any loosening of the law.
U.S. sports leagues, meanwhile, worry that the simple online betting increases the chances of game-fixing. Even the absolute most bullish advocates of online casino games and gambling acknowledge that Internet sports betting – in place of poker or casino games – is highly unlikely to be legalized. “There’s now an improved opportunity for some sort of gaming legislation to be approved,” said Nick.
Batram, an analyst at KBC Peel Hunt, a brokerage firm in London. “However it took more than expected to place anti-gaming legislation in position so maybe it will need more than expected to eliminate it.”
Considering that the 2006 law was passed, North America has been passed by Europe and Asia, based on figures from H2 Gambling Capital read more. The law makes it illegal for financial institutions to take care of payments to online gambling and casino games sites. Some individuals using overseas payment processors to ensure online gambling remains an excellent business.
Now analysts say one possibility for European companies if the ban be lifted, is always to form partnerships with American casino operators. That would allow the European companies like PartyGaming to share their online expertise. Operating alone, they might struggle to obtain licenses, given their history of run-ins with U.S. police force, analysts said.
To date, Las Vegas executives have maintained a cautious stance about legalization of online gambling. Steve Wynn, chief executive of Wynn Resorts, said in an e-mail message he thought it will be “impossible to regulate and even though it will be a benefit to the company, we are strongly opposed,” he said.
Several other online gambling companies whose shares are traded in London, including 888 Holdings and Sportingbet, are still in talks with the U.S. Justice Department. Analysts expect them, along with companies like Bwin International, whose stock is traded in Vienna, to be concerned in a circular of consolidation in the market – plus a possible eventual move back to the U.S..
Other countries, like Germany, Greece and the Netherlands, continue to carry out, though, in what the European Commission sees as an endeavor to guard government-sponsored gambling monopolies from private competition. The commission in March published a written report arguing that the U.S. was violating World Trade Organization rules by keeping out European gambling companies, considering that online betting on horse racing is allowed in the United States. The commission said that it favored negotiations, as opposed to legal action, to end the dispute.