U.S. ban sparks Web gaming crisis

[faisj]

LONDON, England (Reuters) -- Online gaming firms faced their biggest-ever crisis on Monday after U.S. Congress unexpectedly passed legislation to ban online gaming there, threatening jobs and hitting stocks by as much as 70 percent.

Britain's PartyGaming Plc, operator of leading online poker site PartyPoker.com, and rivals Sportingbet and 888 Plc said they would likely pull out of the United States and warned on future profits.

PartyGaming's shares fell 59 percent by 0725 GMT, while Sportingbet lost 64 percent, 888 was down 45 percent and gaming software provider Playtech fell 55 percent. Austria's bwin.com Interactive Entertainment fell as much as 22 percent in the first few minutes of trading.

U.S. Congress unexpectedly approved a bill early on Saturday that would make it illegal for banks and credit-card companies to make payments to online gambling sites.

More:
http://edition.cnn.com/2006/BUSINESS/10/02/uk.betting.reut/index.html



Oh my God.... : (
My fabulous account holds 1000+ gambling/poker/casino domain names
and I was already feeling a huge drop in income...

 

[slugraduate]

It gets worse.

Bush to sign bill to prevent Internet gambling

http://www.breitbart.com/news/2006/10/02/061002132728.nt5b8tr6.html

 

[RogueWriter]

I've tried to steer clear of 'controversial' domains, any porno, casino, or alcohol related. I sure cut myself out of a lot of the profit on the internet, but then, I don't have to worry about a lot of the issues that come up.

Personally, though, I do not see how congress will be able to maintain that U.S. citizens cannot gamble online, gambling is a favorite pastime of a vast majority of citizens.

Our gambling laws are all screwed up anyway. Currently, most states have limited casinos to riverboats, most of which never even go out on the water, for God's sake, they just sit there.

But those riverboats certainly do not like the idea that someone in our state could gamble online rather than drive three hours to their riverboat to gamble, then drive three hours back home - that would cut into their monopoly.

Don't know what to tell you, though, with one thousand gambling domains, man I bet you are worried to death about that.

 

[Volholic]

This is what happens when you put republicans in office
They want to take as many rights as they can away from you

 

[equity78]

One Republican politician we spoke to Saturday had this to say:

"The bill affects Visa/Mastercard transactions and it is getting impossible to use these cards anyway (for online gambling transactions.
"The bill is very 'watered down' in terms of language which gives ISPs plenty of wiggle room if they did not know they were enabling consumers to reach gaming sites. It is not a big deal."

The banking sector has already stated it will be close to impossible to monitor electronic checks, fast becoming the payment option of choice for today's web surfers.

It's not just online gambling government is trying to regulate over the world wide web.....now they are going after internet dating services. Yikes.

Several states are cracking down on the online dating industry, proposing new laws that would, among other things, mandate criminal background checks on all those looking for love on the Internet.


FULL ARTICLE
http://www.gambling911.com/Internet-Gambling-Bill-Gamblers-100106.html

 

[izo-pod]

The big reason for the push in the US against online gambling is the indian casino's. They were starting to lose money just as online gambling began to peak. They probably have more lobbyists in congress than does big oil. Also the states cut of all that gambling money (from land based casino's) was falling.

So the gov't doesn't care if you have a gambling addiction...just not one where they are going to lose money. This is not a morality issue, rather it is all about money.

 

[faisj]

This is a huge blow for Fabulous.com IMHO
(I'm also pretty scared about my own porfolio)

 

[RogueWriter]

This is what happens when you put republicans in office
They want to take as many rights as they can away from you

You know, that was quite uncalled for, and is a completely illogical leap on your part. I am sure that some lefty fanatics would also accuse the Republicans of being in bed with the credit card companies, and as such it would be in their interest to help you max out your card via gambling, indenturing you indefinately to Visa, Mastercard, and their ilk. But, then, you can't have it both ways, can you.

 

[Broker]

I read somewhere that buying then trying to resell domain names will also be considered gambling. Better watch out!

:lol:

 

[MadAboutDomains]

I read somewhere that buying then trying to resell domain names will also be considered gambling. Better watch out!

:lol:

lol, I dont think that is likely at all! Buying/collecting and selling ANYTHING of worth is a gamble. It's like banning the trade of antiques!

In a way its quite funny in a way that they are trying to ban online gambling. People have been going crazy for these names for ages. Just shows that there is some truth in selling domains whilst their hot because things can all change in a short space of time.

Comiserations to those who have invested in alot of these names though. :td:

 

[cache]

I have a few poker/casino names, should I try to sell them now?

 

[Jasdon]

So much for 'the land of the free' - sounds like someones palms never got greased...

 

[danielr]

The gaming companies that are going to get hurt are the gaming companies that got greedy and went public on the stock exhanges. When you have a pubic CEO who you can point the finger at... and this CEO is infringing on US laws...then yes its a problem.

Companies like Bodog and PokerStars (that were smart to NOT go public) plan to keep allowing US residents to play. Its going to very hard to try to stop them from playing. IF THERE IS A NEED (by the people... to play online poker) SOMEBODY WILL FILL IT.

Playing online poker (depositing money) will probably be a cat and mouse game and the US can't stop it. Online poker players will probably be able to use Proxy IP address (offered by the poker sites) and they can deposit money into their accounts by Western Union (they can send the money to Jose Perez in Costa Rica with their Poker Account # on the transaction.

Will gambling domains suffer and PPC drop? Probably certainly at first and it may take some time to rebound. The world (not just the USA) is learning the game of poker. What I expect to see is all these public traded companies will do is start other poker sites underground and allow US residents to play there.

PartyGaming said it will suspend US residents from playing for real money but will allow them to keep playing for play money (partypoker.net). I expect to ads from the free pokersites to deposit and play on other pokersites on partypoker.net... that is secretly owned by partygaming.

If you own gambling domain and or even porn names (which could be next on the Republican idea's of banning), what should you do? You should write your Senator and all House Rep in your area that are Republican and state the following:

"I was a republican (regardless if you were or not) until the Republicans passed the anti gaming bill. Now I am a democrate and will lobby for the democratic party because of this gambling bill. By passing this bill you have taken the first step to make this country like China in restricting the Internet.
As an American, I cannot allow your unfree acts and I will do all in my power to tell other americans about the decisions of the republican party. This move to pass the anti gamblng bill will HURT the republican party much more than you will ever ever know."

The worst think you can do as an american (who wants freedom), is to show that you care and let the republicans know they screwed up. Its your right to voice your opinion.

 

[Broker]

Hey, I have PartyPennies.com - PartyNickels.com - PartyPayouts.com

Will gladly sell for "play" money

 

[creme]

I think the value of my only gamble related name just went up - www.GambleCheat.com

 

[ablaye]

Ok. Now they banned online gambling. What would be next???
It seems silly to me that they would ban something on the internet as if they had juridiction over the internet. The internet is an open forum and does not know any border.

 

[twoprime4you]

I am also wondering how this will effect me even though I do not have any gambling sites myself. Some of my best advertisers run gambling or gaming sites.

 

[dgridley]

I agree.. It's all about the brick and mortar casino lobbyists.. anyone who thinks this has anything to do with "gambling addiction" is deluded IMO..

Someone else said Internet dating is next on the agenda, then what comes after that? Scary...

The big reason for the push in the US against online gambling is the indian casino's. They were starting to lose money just as online gambling began to peak. They probably have more lobbyists in congress than does big oil. Also the states cut of all that gambling money (from land based casino's) was falling.

So the gov't doesn't care if you have a gambling addiction...just not one where they are going to lose money. This is not a morality issue, rather it is all about money.

 

[RogueWriter]

The measure passed, if I am reading it correctly, 409 to 2. I didn't realize there were only 2 Democrats in congress.

 

[slugraduate]

The gaming companies that are going to get hurt are the gaming companies that got greedy and went public on the stock exhanges. When you have a pubic CEO who you can point the finger at... and this CEO is infringing on US laws...then yes its a problem.

Companies like Bodog and PokerStars (that were smart to NOT go public) plan to keep allowing US residents to play. Its going to very hard to try to stop them from playing. IF THERE IS A NEED (by the people... to play online poker) SOMEBODY WILL FILL IT.

Playing online poker (depositing money) will probably be a cat and mouse game and the US can't stop it. Online poker players will probably be able to use Proxy IP address (offered by the poker sites) and they can deposit money into their accounts by Western Union (they can send the money to Jose Perez in Costa Rica with their Poker Account # on the transaction.

Will gambling domains suffer and PPC drop? Probably certainly at first and it may take some time to rebound. The world (not just the USA) is learning the game of poker. What I expect to see is all these public traded companies will do is start other poker sites underground and allow US residents to play there.

PartyGaming said it will suspend US residents from playing for real money but will allow them to keep playing for play money (partypoker.net). I expect to ads from the free pokersites to deposit and play on other pokersites on partypoker.net... that is secretly owned by partygaming.

If you own gambling domain and or even porn names (which could be next on the Republican idea's of banning), what should you do? You should write your Senator and all House Rep in your area that are Republican and state the following:

"I was a republican (regardless if you were or not) until the Republicans passed the anti gaming bill. Now I am a democrate and will lobby for the democratic party because of this gambling bill. By passing this bill you have taken the first step to make this country like China in restricting the Internet.
As an American, I cannot allow your unfree acts and I will do all in my power to tell other americans about the decisions of the republican party. This move to pass the anti gamblng bill will HURT the republican party much more than you will ever ever know."

The worst think you can do as an american (who wants freedom), is to show that you care and let the republicans know they screwed up. Its your right to voice your opinion.

No one would switch parties and lobby on that parties behalf over something as mundane as a gambling bill. Furthermore, did you even bother to research how many Democrats voted for the bill? Referencing this site, it shows that "Republicans voted in favor 201 to 17 (94.95%) and Democrats 115 to 76 (60.21%)".

Better join the Green Party since they didn't vote for it.