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 September 11 - After the CEO of large online sports book Sportingbet was
arrested in the United States last week on charges of violating Louisiana state
laws, the online casino industry is being plagued by fears that no online
gambling executive is safe from prosecution in the US.
The arrest of
Sportingbet CEO Peter Dicks
on Thursday last week at New York's JFK airport, and the
arrest of former BetOnSports CEO David Carruthers from a Dallas airport over a
month earlier, is sending a clear message to online casino and gambling
operators to stop targeting American online gamblers.
Worth an estimated $12 billion a year, the online gambling industry comprises
four main areas - online casinos, online poker rooms, online bingo casinos and
online sports betting sites - has traditionally targeted the United States,
where the vast majority of online gamblers are based.
However, after the arrests of these top online gambling executives, coupled with
a Congressional bill that if approved will make online gambling illegal
throughout America and punishable by law, many large online gambling
concerns are looking for alternative markets to the US.
One such market is Asia, which remains still relatively 'untapped' in terms of
online gambling potential.
Following Dicks' arrest, the London Stock Exchange suspended Sportingbet's stock
on Thursday last week at the company's request.
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