Replies to post #16 on Sportingbet.com UK (fka SPBTF)

[HighSociety]

I don't own any of this stock, but KNOW internet gambling will eventually be legalized because there is to much money to be made. The article said CC compaines will no longer except payments to online gambling websites which is correct, but I still find ways to send money to online gambling casino's (You can send money threw "middle men" processing centers). Many of the online websites I know are having problems processing payouts but find ways to do it still. Many online companies such as PartyPoker.com and others have lost many customers due to the US policy which was signed by Bush in October. Bottom line is that the government will finally realize they can make billions per year legalizing online gambling so they will just eventually make it legal. I have heard of Las Vegas casinos eventually setting up online gambling accounts that will be regulated by the government. The only reason the government tried to stop internet gambling is because they have not yet figured out a way to get their hand in the cookie jar.

Hit me back with questions or responses. I could right a book about this situation.

[Afterhours]

I borrowed this from BKMP board...


Relative to on-line gambling which BKMP is also invested in, here's a post from zero at the Millionaires Players Club:


Bill to legalize online gambling is off the table
Saturday, June 09, 2007
Sabrina Eaton
Plain Dealer Bureau

Washington- A bill that would legalize and regulate many forms of Internet gambling will be put on hold while its author, House Financial Services Committee Chairman Barney Frank, attempts to draw a better political hand.

"There are more votes for my position now than there were a year ago, but there aren't yet enough," Frank said after a hear ing at which Barberton minister Greg Hogan Sr. described how his son, Greg Jr., robbed a bank to pay Internet poker debts.

Frank, who believes the current ban on Internet gambling interferes with Americans' personal freedoms, says he won't push the bill through his committee until he thinks it could pass the full House of Representatives.

Financial experts at the hearing delivered conflicting reports on whether gambling Web sites can weed out patrons who are underage or live in states where gambling is illegal. Republican legislators who attended, including Steve LaTourette of Concord Township, expressed opposition to the bill.

Hogan, who lives in Hudson, listed his son's achievements, which included playing at Carnegie Hall piano recitals and being elected president of Lehigh University's sophomore class, before describing his descent into addiction and the Hogan family's futile efforts to stop it. Greg Jr. is now serving a 22-month prison sentence.

"Because Greg fell victim to Internet gambling's illusions of quick riches and a shortcut to his dreams, his dreams are in ashes today," Hogan told the committee. "Please refuse this bill, because if we open the door to any type of Internet gambling, we are allowing our college and high school students to play Russian roulette."