Is There Any Future Of Online Gambling?

Is There Any Future Of Online Gambling?

US and Canada, being plagued by online gambling, are trying to deal with this problem. Unlicensed offshore gambling businesses have been beaming into these two countries via internet and they offer betting services of all types. It is quite certain that these offshore companies make huge amounts of money, about million dollars, from US and Canadian economies on a tax-free basis. Many online gambling sites in UK and Antigua are licensed.

But UK and Antiguan do not monitor their license for other countries. In 2006, David Carruthers, chief executive officer at Betonsports (the company which was licensed in the UK, but not in US) was arrested by the US authorities. The company accepted bets from US residents. Carruthers was sentenced to jail for 33 months.
In spite of being the illegal offence, online gambling continues to pour out money on a tax-free basis.

Photo source markhillary


This entry was posted on Saturday, May 28th, 2011 at 2:30 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

 

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