Bwin Stock Rises On Strength Of US Online Gambling Bust
Online Casino Software Providers Staying In US Market
In the past couple of weeks there has been a major shakeup in the online gambling industry in relation to the US. Many of the top online poker sites have stopped accepting US customers after the federal government issued an indictment against executives from PokerStars, Absolute Poker, and Full Tilt Poker.
The arrests scared many companies away, but others have continued to do business as usual with US customers. Vegas Technology and Real Time Gaming are two software providers that have allowed their casinos to stay in the US market after the Unlawful Internet Gambling Enforcement Act was created, and the software providers appear ready to ride this storm out as well.
“The fact that neither Vegas Technology or RTG have instructed their casinos to pull out of the US is a sign that not all in the industry believe that these recent arrests had anything to do with online gambling,” said Gaming Analyst Brad Dawkins. “There have been many legal experts who believe online gambling is legal in the US, and these software providers obviously believe that as well.”
The US government has continued to claim that online gambling is illegal, despite a law that legal analysts believe is confusing and non-descriptive. Online poker enthusiasts have for decades asserted that the game of poker is one of skill, not chance. That distinction makes a difference in several states with online gambling laws.
It is not just online casino companies that are going to stay in the market. Bodog and other online poker sites continue to accept US customers. While some sites are staying in the market, others have heeded the warning shots fired by the Department of Justice. Microgaming has reportedly ordered all casinos running their software to leave the US market for now.
Foreign companies have been playing it coy when it comes to the US. With lawmakers starting to line up behind online gambling regulations in the country, foreign companies that stay out of the market until those regulations are enacted will have a better shot at receiving a license once regulations are in place.