Overseas Gambling Companies Laying Off U.S. Action

Although the United States government has yet to act on any legislation on the table to crack down on internet gambling, many overseas companies are not waiting to pull the plug on action from the U.S..

Due largely in part to the July arrest of Betonsports Chief Executive David Carruthers many European based gambling companies are trying to reduce their number of U.S. clients and are focusing on picking up business in Asia and Europe.

Although the companies are moving away from americans, the potential is there for great financial losses by making this move. Americans last year gambled almost 5.9 billion online and that accounted for about half of the total for the whole world.

In addition to the online gambling, companies are also backing off taking any action over the phone from U.S. phones, thus also hurting the companies in their sports book dollars.

Revenues for these online casino companies are still growing at a rate of 40 percent annually, so even though the U.S. government is cracking down, some companies are going to stick it out because the reward appears to be worth the risk in their minds.

August 22, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!