Online Gambling and the On-going US Drought
In 2010 UK gaming site woke up and rejoiced as news broke out that the four year ban which had been imposed upon US online gamblers was soon to be lifted as per the government’s reviews of its 2006 legislations and its prohibition of online real money betting.
As the 2006 legislation was enforce in September of 2006 across the USA, the UK’s multibillion pound gambling industry came close to collapse at the overnight loss of one of its largest online clients.
And, with the economy well on its downward spiral already, the last thing the British economy system needed was another attack on its annual revenue income.
Yet the loss of the US players to such profitable and reliable UK gaming sites like 888 Limited and Party Gaming meant that their shares saw a drastic drop of between 26% and 54% for each site respectively which equated to an overall loss of £4billion in stock shares.
And whilst the UK tried and failed to make the best of a bad situation by exploring wider gaming opportunities further afield than the scope of the US, nothing has been able to come close to the amount of revenue that US patronage produced which has in turn meant the inability of the gaming industry to recover fully from the revenue deficit the loss of the US backing cost.
However with the repeal on the mind of many a US governing body, a new hope was instilled amongst a struggling yet slowly re-growing online gaming industry as that age old controversial discussion on whether or not online gambling should be made legal was once again sparked off.
Nevertheless whilst UK and US Online Gambling supporters remained hopeful that the band would soon be lifted, expert predicted a drastic stall in repeal proceeding as midterm elections swept the nation and seats changed hands.
Yet when the stall experts predicted finally did came it was a surprised that its consequence was not that of any governmental election taking place, but rather that of the US states realising that the same legislations they had been abiding by and upholding since the 1961 Federal Wire Act could actually be used to help their own internal state economy without having to seek legal online gambling in overseas places like the UK.
Once again, the UK along with the rest of Europe were left to weigh the pros and cons of the US government lifting the ban on online gambling in the USA and realising the possible negative implications that lifting such a ban would have on their economy if US casinos and gaming halls chose to exploit this new freedom and establish themselves as rival gaming providers for US players within the actual US.
Two years on from the initial discussion to quash the 2006 prohibition of online gambling legislation in the US back in 2010, and still no decision has as yet come to fruition as the online gambling US drought continues.
Online Gambling and the On-going US Drought,Related Online Gambling News
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