Tag Archives: companies
Online Gambling May Be Cut Off By New Legislation
There is a new law waiting to be signed by President Bush which was presented to Congress that is holding the $12 billion online gambling industry by a thread. It appears that Tennessee Senator Bill Frist, introduced the bill on Saturday by joining it to the Safe Port Act before Congress took its election recess in November.
The Unlawful Internet Gambling Enforcement Act that is expected to be signed by President Bush, will practically finish off all online gambling sites by making it illegal for any bank, credit card company or online payment system to process any payments being made to online gambling companies.
The new law states that Online Gambling sites are now banned from accepting any type of check, credit card or electronic transfer payments for internet gaming in the US and seriously puts the industry in chaos.
Surprised at the passing of this new debilitating law, the leaders in the online gambling industry took drastic measures and started to trade off stock on the London Stock Exchange which erased $8 billion from the industry. PartyGaming, the world’s biggest online gambling site said that they would cease their ties with the 920,000 active US customers they currently have only when Bush actually signs the new act.
Although the new law hasn’t yet been signed, the industry is already being drastically affected. PartyGaming’s stocks alone have dropped 60% ending up at a measly .81 cents a share. Other sites like SportingBet and 888 Holding were also affected by the change and have since lost a lot of money on their shares. 888 Holding, for example, had a 48% decrease on their shares dropping them down to $1.42 on the British Market and announced that it was going to no longer continue its online gambling business in the United States.
This isn’t the first Act, however, that has given the federal government power to break down the online gambling industry. Under the 1961 Wire Act, the federal government has the right to brake down online betting in sports, poker and other casino games that are considered to be illegal under the law.
This is seriously debilitating the industries economy because the US consumer market is responsible for 50-60% of the online gambling revenue. These critical laws against the online gambling site owners are forcing companies to shut down or move out but what’s clear is that they are no longer welcome in the United States.
The Madam Chairman of the Interactive Gaming Council, Sue Schneider, has predicted that over 500 companies running around 2,300 online gambling sites around the world will be facing extinction and will most likely be wiped out of the industry all together. The small number of companies that manage to live through this incredible crisis will have to live with a huge cut back on their revenue and figure out new ways of growing again. The idea of opening up in the Asian market has become a favored idea for many.
Whatever the case may be, companies have 270 days after the bill is signed to figure out their plan of action before the U.S. Attorney General Alberto Gonzales decides how the law will be enforced.
How to choose your Pay Per Head Services Provider
Choosing a reliable pay per head service can be a confusing and time consuming endeavor for local bookmakers. One place to start is by visiting pay per head review sites that can give you a heads up on which companies are using the best bookie software and how long theyve been in business. There are many different aspects to PPH services that need to be taken into consideration before you put your players in with them.
Redundancy is a term that is used to describe a companys ability to keep you open for business. If their servers crash or if their phone lines go down your players will not be able to place wagers and you wont be able to make any money. Price per head companies need to start by building a solid infrastructure foundation to avoid downtime and provide the service you are paying them for. Too many PPH companies think that a couple of dusty old servers in a closet constitutes redundancy.
Price per head reviews can also give you valuable information on a companys bookie software. Ideally they should offer you a free demo of their service that will allow you to judge for yourself if it has everything you are looking for. The industry standard with pay per head services is that they will offer you sportsbooks lines, horse racing and an online luck-entertainment center. If they cannot provide all 3 then you should give them a pass, even if you dont intend on using every product it demonstrates that they are a serious organization and not an underfunded fly by night operation.
Privacy is another key issue that you should look for when reading through pay per head reviews. In this day and age of modern technology there are a multitude of privacy and security issues that you need to be aware of. Every day there is another story in the news about internet privacy and cell phone security issues and you need to make sure that your PPH service provider is taking them seriously.
Be prepared to roll up your sleeves and do some serious reading and research if you want to find the best price per head companies offering the best service. This is your business, your life and your livelihood. If you put your players in with the first PPH store that offers a cheap price dont be surprised if you end up disappointed. Due diligence is the key to success.