Archive for October 2nd, 2010

Sportingbet settles with US Government

Could gambling sites cleaning up their mess in America pave the way to a legal online gambling market in America?

The UIGEA, which was enacted in 2006 made many online gambling companies shut down their operations in America, so American players were no longer being accepted at many of their favorite sites.

Most Americans are waiting for some kind of change to occur with the UIGEA, which would allow the transfer of funds to online gambling sites to be legal in the United States again. In the mean time gambling, sports betting, and poker sites are trying to make amends for their legal discrepancies in the United States.

Sports betting site Sportingbet has just recently reached a settlement with the United States Department of Justice that will clear their name in America. The sports betting site is a company based out of London that has been in legal troubles for actions involving online gambling in America from the years 1998 to 2006 when the unpopular UIGEA bill was enacted.

The CEO of Sportingbet at one point was arrested in New York however was freed after arraignment of the charges. The arrest along with the UIGEA made it so that the sports betting site would shut down its service to American players.

Sportingbet paid out 33 million in penalties and fines however this has bought them a clean name within the United States. Another company that has cleaned up their mess in the U.S. is Party Gaming who reached a settlement similar to the Sportingbet’s settlement back in 2009.

Whether it be casinos, sports betting or poker, many companies have legal troubles to clear up with the United States. If sports betting companies like Sportingbet and poker companies like Party Gaming can clear their names in the United States, then maybe so can the rest and this could mean hope for those patiently waiting for some changes to the UIGEA bill.