Certain Stocks Tumble on Detention News

Stocks in the United Kingdom took a tumble earlier this week when an online gambling executive from the company Bet on Sports was detained in the United States as he made a connection from a flight originating in the U.K. This executive was originally supposed to fly to Costa Rica. What this means for the online gambling industry is anyone?s guess, not too many online casino companies have gone public but as the United States government continues to ratchet up its campaign against online gambling more online casino companies than not might refrain from going public.

The online gambling industry makes billions of dollars a year, and can count customers on every continent, aside from Antarctica. If the United States Senate passes a bill that has already cleared the House of Representatives, it will be harder for Americans to spend money at online casinos, and this will likely result in a time of soul-searching for online casino companies as they decide what it is, exactly, that they wish to do about it. In any case, U.S. officials clearly are not pleased about online gambling companies flouting U.S. commerce laws.

If the detention of the online gambling executive leads to a conviction on charges of, among other crimes, racketeering, then the ability of the online gambling industry to win over not only customers but governments as well ? which would beef up their financial positions considerably ? might be incredibly weakened.

                                 

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