Thread: Interesting Money piece on Betfair's vision for U.S. gaming
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Old 07-17-2009, 08:05 AM
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Default Interesting Money piece on Betfair's vision for U.S. gaming
Online gambling for the Facebook generation

U.K.-based Betfair is betting that the U.S. market will be legalized sooner rather than later.

By Michael V. Copeland, senior writer

http://money.cnn.com/2009/07/14/tech...ion=2009071416

NEW YORK (Fortune) -- If your favorite book happens to be Seabiscuit, you already know the answer to the following question: What are the three legal forms of online gambling in the United States?

The Federal Unlawful Internet Gambling Enforcement Act, passed in 2006, put the kibosh on all kinds of online gambling, with the exception of fantasy sports, online lotteries, and horse/harness racing. It actually wasn't the betting that was outlawed, but the transfer of money from a bank to an online gambling site. In any event, for online betting houses in the U.S., the party was over -- sort of.
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