International Internet Gambling Firms Eye U.S. Expansion Now

 "We will not be stopping U.S.-based players from playing at Poker.com and all player account balances are 100 percent safe and will always be readily accessible," the company said.
 
Most of the 2,300 gambling sites currently operating are already based outside the U.S., typical on Caribbean islands or in Central America and Europe, to avoid the American controversy. Enforcement of the anti-Internet gambling laws is difficult, however, and the companies have made billions of dollars annually from American bettors. Gambling is, moreover, legal all over the U.S. in the form of state lotteries and casinos.
 
Online poker players are nervously awaiting President Bush's expected signature this week on legislation that would kick them out of their virtual casinos.

Devious GOP

A devious Republican Senator, Sen. Bill Frist, stealthily attached an anti-gambling bill to a port security measure in the waning moments before Congress adjourned in late September. This is aimed at bolstering his standing amongst the religious right.
 
The $12 billion online gambling industry gets about half of its revenues from the U.S.
 
Gamblers are enraged, and are fighting back, and considering lawsuits to overturn the oppressive measure.
 
Mike Sexton, a professional poker player and commentator for the World Poker Tour, said "it felt like our rights have been violated."
 
According to Chad Hills, a gambling research analyst for Focus on the Family, a conservative group, the laws in place against online gambling are ineffective. 
 
Michael Bolcerek, president of Poker Players Alliance, said the Frist anti-online gambling will "just push it underground" rather than eliminate it. The Poker Players Alliance has begun to focus its efforts on securing legal exemptions for online poker.

Private Firms

 
Many publicly traded online gambling companies have also seen their shares drop in the past week, eliminating an estimated $8 billion in market value. Still, most online gambling companies are unaffected, as they are not traded on the public markets, but, rather, are privately held.
 
That being said, Dublin-based FireOne said in a statement that it "has embarked upon a restructuring of its operations and cost base" as it’s awaits Bush's bill signing.

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