It would seem that if you are looking to build a new online gambling franchise that Manhattan would be the place to go. Lots of money to be found, people are generally a let live sort of people, right? Well, it seems that many online gambling companies have had that same idea.
Federal prosecutors have seized more than $717 million in online gambling operation assets as well as corporate fraudsters and drug traffickers over the course of last year. And it all comes from Manhattan.
There could also be another $450 million coming in from the borough as well as there are plea bargain agreements under negotiation at this time. A large chunk of that money comes from NETeller. The online gambling payment company forfeited $136 million after their top officials pled guilty to charges of promoting offshore online gambling.
New York must have a hold on the online gambling market. Another one of its boroughs, Brooklyn, registered third on the list with $49.2 million in online gambling seizures. The amount that Manhattan brought in is more than half of all online seizures for the entire country.
Therefore, it only stands to reason that either more people in NYC are getting involved in online gambling, or they are just better at finding it. Either way, it would behoove those that want to participate in online gambling and the processing of it, would want to look into a change of address before they become part of the statistics.
It seems that everyone is after the online gambling ban that the United States has tried to pass off. Various online gambling interests have gotten involved and are working to see that the US lifts its ban on the processing of payments for online gambling. Even as the US is attempting to make the online gambling ban even stricter, smaller countries are whittling away at it.
Last year the tiny island of Antigua, who depends on its online gambling dollars to exist, won $21 million in compensation for trade disparity. They took their case to the World Trade Organization and asked them to mediate. The WTO told the US what they needed to do, the US refused to comply, and Antigua won.
Now Costa Rica has also filed against the US for the same online gambling issues. They have also asked the WTO to mediate for them. This of course comes right after the Remote Gambling Association had lodged a complaint with the European Commission regarding what? You guessed it, the online gambling ban that the US has steadfastly stood by much to their detriment.
The Unlawful Internet Gambling Enforcement Act, or UIGEA, has caused endless problems for the US, as well as money lost out of its taxpayer’s pockets. Much of Europe is angered by the US’s laissez-faire attitude regarding their opinions on the UIGEA. They say that the US holds other countries to a standard that they themselves do not follow as can be seen with the online gambling ban. They say that online gambling is illegal, yet they allow it with their horse racing and lotteries in the country which simply means they have created a monopoly for those industries.
The European Commission will now decide whether or not to open an investigation into the online gambling matter, and those that have filed are confident that they will. Antigua and Costa Rica have filed against them as well, with Antigua citing that the reparations that have been made are not enough and they are seeking more in damages. The RGA is simply looking for the US to reopen its online gambling borders.