Saturday, October 14, 2006

An Ironic Ray of Hope?

In the Ocboter 7th-13th issue of the Economist, there is an article on the online gambling bill on pp77-78. The article ends with:

"One of the more ironic consequences of the new law is that it may have made British-based online gambling companies vulnerable to takeover by America's casino groups. Not only have the firms' share prices fallen heavily, but their withdrawal from the United States has legitimised them as prey to American operators seeking to quickly obtain online expertise and knowledge of overseas markets.

If such acquisitions come to pass, it seems more than likely that American on-line gambling firms would begin to lobby American politicians to legalise online gambling. Thus, America's prohibition may ultimately have unexpected consequence of moving the country one step closer to legalising online gambling."

The news overall right now is not good. But there is this ray of hope.

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