Gambling News From Gambling911.com

Here you will find all the latest gambling news from around the world with a special focus on the global online gambling market.

888 Goes Live With Sportsbook

Posted Mar 13th 2008 11:59 am by Christopher Costigan
Filed under:
Gambling News
 

 

Was this a good or bad week to be entering the UK sports betting market? Time, and the running of two days at Cheltenham, will tell. But the long-awaited entry of 888 into the sports-betting marketplace heralds a new dawn for the company, not just in the UK but across Europe. Jake Pollard reported of eGaming Review Magazine reported on Thursday.

UK, Germany, Spain, Sweden, Denmark and Austria, with localised versions of the sportsbook in each of those regions is now available from the Gibraltar-based online gambling firm.

888.com group marketing director Matt Robinson said: “888.com’s entrance into the sports betting market represents a significant milestone in the progression of our diversified, multi-channel strategy to grow customer reach and appeal globally. We believe that although our sportsbook addition will result in existing clients betting on sports with us, it will also provide an opportunity for new clients to experience our award winning brand.”

888.com already has sponsorship agreements with the Seville Football Club and the 888.com World Snooker Championships and it will look to these to help promote the new member of the family.

“Sports sponsorship has always been a significant part of 888.com’s marketing strategy and now that we are offering clients an opportunity to bet on activities like football and snooker, we will be looking to offer plenty of markets on Seville FC games and 888.com World Snooker Championship matches in the coming months,” said Robinson.

888.com's fourth quarter sales showed a whopping 60 percent increase to $35 million, and poker revenue showed an increase as well of 16 percent to $21.4 million.

CEO of 888 Holdings, Gigi Levy, said, "This is a transformational year. These are very good results that we think show our strategy is delivering."

The company recently partnered up with EntertAsia as a means of helping it to achieve success in Asia.
 

 

 

William Hill Wins Case Against Compulsive Gambler

Posted Mar 13th 2008 9:38 am by Gambling911.com Staff
Filed under: Gambling News


 

A compulsive gambler has failed in a high court bid to force the bookmaker William Hill to repay his £2 million losses.

Graham Calvert, 28, had claimed that the bookmaker had failed in its "duty of care" and as a result his gambling habit cost him his family, health and livelihood.

Mr Justice Briggs however ruled today that William Hill was not liable for Mr Calvert's losses.

He also ordered Mr Calvert to pay the company around £336,000 in legal costs.

The judge said that while the firm had failed to take "reasonable steps" to stop Mr Calvert from using its telephone betting service, his "pathological gambling" habit would probably still have led to his financial situation.

"William Hill's failure to take reasonable care to exclude him from telephone gambling … did not therefore cause Mr Calvert any measurable financial or other loss," Mr Justice Briggs said.

Mr Calvert claimed that the bookmakers had taken advantage of his gambling addiction by letting him still place bets after he had asked for his account to be closed under a self-exclusion scheme.

His lawyer, Anneliese Day, said that his financial decline from an accomplished greyhound trainer to today had been "staggering".

"The claimant's descent from betting being a hobby to betting being a disorder appears to have commenced when he began betting by telephone," she said.

However David Hook, a spokesman for William Hill, said: "We stated from the outset that there was no case to answer to Mr Calvert.

"The judge found that no general duty of care is owed to problem gamblers and that William Hill's handling of Mr Calvert's calls did not cause his loss."

Mr Justice Briggs ruled that Mr Calvert would not be granted permission to appeal the decision, although he will able to take his case to the court of appeal.

 

Eliot Spitzer Terrorized Online Gambling Industry

Posted Mar 12th 2008 7:34 pm by Christopher Costigan
Filed under:
Gambling News



 

In 2002, it was Eliot Spitzer - then Attorney General - who nearly shut down a booming online gambling industry.  His actions forced the hand of many banks, threatening prosecution to those who allowed credit cards for transactions identified as online gambling. 

Ironically, it appears to be these very same banks that led to Spitzer's dramatic downfall this week.  Spitzer announced his resignation Wednesday morning after getting caught up in a "prostitution sting".

His own bank branch in Manhattan turned him in to the Internal Revenue Service as someone who might be engaged in suspicious currency transactions, according to sources familiar with the investigation.

After the governor transferred $10,000 by breaking it into smaller amounts, he then called the bank asking that his name be removed from the transactions, the sources said.

Agents of the IRS Criminal Investigation Division initially started a probe fearing that the governor was the victim of some sort of blackmail scheme or because he was being victimized by an impostor, the sources said.

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Congressman Calls for U.S. Trade Representative to Provide Details of WTO Internet Gambling Settlement

Posted Mar 12th 2008 12:14 pm by Gambling911.com Staff
Filed under: Gambling News


 

DeFazio questions USTR settlement of trade dispute absent Congressional mandate

(Washington, D.C. – March 12, 2008) Congressman Peter DeFazio (D-OR) has requested the U.S. Trade Representative (USTR) disclose trade concessions made to foreign trading partners without Congressional approval. DeFazio’s inquiry raises the possibility of Congressional intervention to void new market access commitments granted by USTR to the European Union and other complainants as compensation for a United States trade violation regarding Internet gambling.

In a letter circulated to all members of Congress last week, DeFazio encouraged his colleagues to join him in calling for the USTR to provide a copy of the concession agreement between the United States and the European Union. The USTR had recently rejected a Freedom of Information Act request for the same document, claiming the agreement was classified for national security reasons. “There is a concern that the USTR may have been ambitious in its use of a ‘national security’ classification to avoid any publicity of which new business sectors are to be subject to the GATS (General Agreement on Trade in Services) treaty,” said DeFazio’s March 6 letter.

Eliot Spitzer Resignation coming now

Posted Mar 12th 2008 11:28 am by Gambling911.com Staff
Filed under: Gambling News


 

Depending on traffic, disgraced New York Governor was expected to announce around 11:30 am EST that he would be resigning. 

At 11:10 am, Spitzer, his wife and presumably Spitzer's high powered legal team were picked up at their 79th Street apartment by three separate black caravans. 

The news comes among revelations that Spitzer may have spent upwards of $80,000 of taxpayers money on high priced call girls.   Shockwaves spread over New York and much of the world Monday when Spitzer was potentially revealed as "Client 9", caught on a federal wiretap arranging for a high-priced call girl to be sent from New York to his Washington hotel.

The millionaire, married politician has been hopping into bed with harlots for as long as a decade and traveled as far as Florida for steamy trysts, sources told the New York Post Wednesday.

Spitzer, an online gambling zealot, forced over a dozen banks to stop allowing such gaming transactions in 2002, crippling the industry. 

David Alexander Paterson would be assuming the role of New York Governor.  Paterson would become New York's first African American Governor and the first "legally blind" Governor.

 

Eliot Spitzer to Resign: "Sienna" Says He Paid For Sex While DA

Posted Mar 12th 2008 11:07 am by Christopher Costigan
Filed under:
Gambling News


 

Spitz quits as another call girl "Sienna" comes out of the wood work

Aids close to disgraced New York Governor, Eliot Spitzer, have stated that he will official resign on Monday.  WNBC.com has learned that Spitzer will announce his resignation on Wednesday, but it will not become effective until Monday at the request of Lt. Gov. David Paterson who needs time to put a transition team in place.

The news comes among revelations that Spitzer may have spent upwards of $80,000 of taxpayers money on high priced call girls.   Shockwaves spread over New York and much of the world Monday when Spitzer was potentially revealed as "Client 9", caught on a federal wiretap arranging for a high-priced call girl to be sent from New York to his Washington hotel.

The millionaire, married politician has been hopping into bed with harlots for as long as a decade and traveled as far as Florida for steamy trysts, sources told the New York Post Wednesday.

One of them, a 22-year-old call girl who goes by the name "Sienna" on her Web site, told ABC News that Spitzer paid her for sex two years ago when he was still attorney general.

He tipped big and "didn't do anything that wasn't clean," she added.

Eliot Spitzer to Resign: "Sienna" Says He Paid For Sex While DA

 

888.com Makes Name For Itself in World Snooker Championship

Posted Mar 11th 2008 11:40 PM by Alistair Prescott
Filed under: Gambling News


 

888.com, the online gambling venture, was hit especially hard when they were forced out of the US market last year.  But 888.com continues to rebound much nicer than another hard hit enterprise, PartyGaming, which last week announced the resignation of its CEO Mitch Garber.

One of 888.com's big hits has been sponsorship of the World Snooker Championship.  The event takes center stage this week.

The first-round draw for the 888.com World Championship has done John Higgins, the holder, no favours, according to the Times Online. The Scot faces Matthew Stevens, twice a finalist and three times a losing semi-finalist since 2000. “It's true when people say there are no easy draws these days but Matthew is one of the toughest and most experienced players,” Higgins said.

Ronnie O'Sullivan, the favourite to collect the £250,000 first prize, opens against Liu Chuang, a 17-year-old from China who will be making his Crucible debut. Mark Selby, last year's finalist and winner of the Masters and Welsh Open this year, plays Mark King.

The World Snooker Championship, currently held at the Crucible Theatre in the English city of Sheffield, is the climax of snooker's annual calendar and the most important snooker event of the year in terms of prestige, prize money and world ranking points.

Recent United Kingdom legislation has placed restrictions on tobacco advertising, including sponsorship of sporting events. Embassy had a special dispensation to continue snooker sponsorship until 2005.

From one vice to another, the Championship is now sponsored by 888.com, after the company signed a five-year sponsorship contract. During the 2005 Championship it was announced that the Championship would remain at the Crucible for at least another five years. Plans to build a purpose-built billiardrome in the city are in their early stages. It is anticipated that the World Championships will be switched to the new venue once the current Crucible contract ends.

A recent contract ensures that the BBC will continue to televise this event (along with three others) until 2011. IMG Media (initially as TWI) have produced the BBC's Snooker coverage since 1998.

888.com is presently enjoying a successful entry into the Asian online gambling market courtesy of software provider EntertAsia.com

 

 

Texas Hold'em for the Asian Market

Posted Mar 11th 2008 11:06 PM by Ace King
Filed under: Poker News and Gambling News

Today is "Asia Day" at Gambling911.com, or so it seems.  So why not break the news that our friends at EntertAsia are about to release their own version of Texas Hold'em.   EntertAsia is a premium sponsor of the Gambling911.com website.

For EntertAsia, which recently partnered up with 888.com and already has one of the leading Asian online gambling sites in its corner, Easybets.com, this will represent the comprehensive gaming software company's entry into the remarkable world of online poker.

Bodog CEO Calvin Ayre has been closely monitoring EntertAsia's every move.  After all, he has Gambling911.com as his home page. 

The "expertise" in the Asian online gambling market is sparse, as Ayre points out.

"I was there for the AiG (Asian i-Gaming) Conference, which is the only gambling conference in Asia that focuses solely on i-gaming. In its sixth year, it is the longest-running gaming event of its kind. It was a big success, doubling in size from last year, and it was nice to be able to catch up with some of my industry friends. I was surprised that there weren't more Asian people there; which might be an early indicator of what a challenge it will be for any Western based company to make the move into the Asian market. Not for the faint of heart…but I've always loved a good challenge."

Bodog already offers its own successful online poker network, but nothing designed exclusively for the Asian poker player.

EntertAsia's Texas Hold'em game has yet to be released, but you can rest assured it will be geared with the Asian market in mind.

Texas hold 'em (also hold'em, holdem) is the most popular poker game in the casinos and poker card rooms across North America and Europe.   Hold 'em is a community card game where each player may use any combination of the five community cards and the player's own two hole cards to make a poker hand, in contrast to poker variants like stud or draw where each player holds a separate individual hand.

After slow but steady gains in popularity throughout the 20th century, hold 'em's popularity surged in the 2000s due to exposure on television, on the Internet, and in popular literature. During this time hold 'em replaced 7 card stud as the most common game in U.S. casinos, almost totally eclipsing the once popular game.   The no-limit betting form is used in the widely televised main event of the World Series of Poker (WSOP) and the World Poker Tour (WPT).

Because each player only starts with two cards and the remaining cards are shared, it presents an opportune game for strategic analysis (including mathematical analysis). Hold 'em's simplicity and popularity have inspired a wide variety of strategy books which provide recommendations for proper play. Most of these books recommend a strategy that involves playing relatively few hands but betting and raising often with the hands one plays.

Release date of the EntertAsia.com Texas Hold'em game has not yet been announced.

 

Eliot Spitzer Worse Than Joseph McCarthy?

Posted Mar 11th 2008 3:43 pm EST by Payton O'Brien
Filed under:

Gambling News
 

It can be argued that no single U.S. politician has instilled more fear in the nation's own people than 50's Senator Joseph Raymond McCarthy.  Oh, and then there was New York Governor, Eliot Spitzer, who helped open the week with a bang.  Apparently there was plenty of banging going on with the Governor if you know what we mean.  Unless you've been living under a rock the past 24 hours, Spitzer is alleged to have been caught up in a prostitution sting.

Eliot Spitzer and the late Joseph McCarthy had plenty in common it appears.  Not only did they instill fear in many (McCarthy set his sights on celebrities, Spitzer on corporate executives), they were both prisoners of their own vices.

At the end of the day, when McCarthy was through ruining people's lives, it was reported that he suffered from cirrhosis of the liver and was frequently hospitalized for alcoholism. Numerous eyewitnesses, including Senate aide George Reedy and journalist Tom Wicker, have reported finding him alarmingly drunk in the Senate.

Spitzer was busy prosecuting prostitution rings himself.  He would often erect himself as the "Righteous Prosecutor of Wrongdoers" while serving as District Attorney in New York State.  But in Washington, it was a different type of erection that may ultimately have ended up costing the embarrassed Governor his job.

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Eliot Spitzer Enemy Number One of Manhattan Investment Houses:  "Get Odds on This @$&%#ing Hypocrite!"

Posted Mar 11th 2008 2:18 pm by Christopher Costigan
Filed under:
Gambling News

They might as well throw a parade down Wall Street this week.  New York Governor Eliot Spitzer has turned into the ultimate "hypocrite", Wall Street investors and others claim.  Throughout much of the last decade, Spitzer has focused his attention on taking down investment firms, banks and even online gambling enterprises.

In response to vast requests, the Internet gambling site Bodog has promised to offer betting odds on the disgraced Governor before Tuesday evening sets in.

Gambling911.com's own Tyrone Black tells us the investment assets management firm he works at was still in complete shock on Tuesday following the announcement that Spitzer got caught up in an escort service probe.

"When the first email came in we thought it was a joke and everyone just started laughing," he relayed from his office in Manhattan.  "Once we realized what was happening, nobody can stop talking about Spitzer."

 

China May Beat US to Online Gambling Regulation

Posted Mar 11th 2008 10:54 am by Gambling911.com News Wire Staff
Filed under:
Gambling News

 

Say it isn't so but China may soon be licensing online gambling operators. 

The high growth market of China may soon begin to license regulated online gambling, according to a report in the Macau Daily Times newspaper.

Galaxy Entertainment Group is understood to be making moves to capitalise on an eventual legalising of internet gaming in mainland China.

The Macau Daily cited Galaxy's deputy director Francis Lui as stating: "Galaxy is very excited by this business opportunity...and we have established a foundation through an agreement with an internet cafe operator in China."

Most forms of gaming - including online betting - remain illegal in mainland China, but Lui suggested the Chinese propensity for gaming could eventually merit a change in position from the government.

Online gambling is a billion dollar industry.

 

Eliot Spitzer "Prostitute Ring" Charged Up To $31,000 Per Day!

Posted Mar 11th 2008 10:19 m EST by Sparky Collins
Filed under:
Gambling News

 

Gambling911.com's own Cuban transgender reporter, Sparky Collins, gets to the bottom of the Eliot Spitzer Emperors' Club "Prostitution Ring" scandal

A prostitute ring with alleged ties to New York Governor Eliot Spitzer feature call girls that charged upwards of $31,000 per day.  The highest rate was part of the "seven diamonds" package.  That is a lot of diamonds brotha!

The Emperors’ Club was also quick to cash in on the European tourist trade, fueled by a cheap dollar.  That same seven diamond girl cost €22,000.  Remember, the Dollar is worth nearly half of what the Euro is these days.

 

Selection Sunday 2008 Will be Like a Zoo for Online Gambling Sites

Posted Mar 10th 2008 10:54  pm EST by Payton O'Brien
Filed under: 2008 March Madness Betting Odds,

Gambling News
 

Once Selection Sunday 2008 is over, a betting frenzy like no other takes place the few days in between Selection Sunday and the first game of the 2008 March Madness season is played.

Online gambling sites also enjoy tremendous amount of action as a result of massive March Madness Brackets contests being offered.  Typically, these websites offer a million dollar prize to those who get the bracket right in its entirety. It probably won't happen, but some have come close.

"We've had people come within a few games," admitted a representative of BetUS.com, which again this year is offering up a $1 million bracket contest starting Selection Sunday March 16 (once all the March Madness teams are announced).

For websites like Gambling911.com, Selection Sunday provides fertile traffic thanks to the masses looking to place bets immediately after games are announced in hopes of getting the best number (odds).

Throughout the period between Selection Sunday and Game One, odds have a tendency to fluctuate violently on some games.  In fact, you will want to bookmark our very popular live odds comparison page to take full advantage of the different odds being offered on the same game at various online gambling websites.

Sites like BetUS.com were offering betting odds on the different divisions right up to Selection Sunday and probably right up to the first March Madness game.

 

Spitzer High Paid Hooker Identified as Temeka Rachelle Lewis


Posted Mar 10th 2008 8:19 pm by Christopher Costigan
Filed under:
Gambling News

Spitz' Blitz of online gambling industry, Wall Street and prostitution rings comes into question

Disgraced New York Governor Eliot Spitzer was expected to resign almost immediately following revelations that he had allegedly engaged the services of a hooker by the name of Temeka Rachelle Lewis.

According to a law enforcement source close to the investigation, the Democratic governor used the alias "George Fox" when meeting with a prostitute. His alleged conversations with the prostitution ring are detailed in court papers in which Spitzer is identified as "Client 9," according to a source.

Ms. Lewis was identified via the Feds "Prostitution" complaint.

Excerpts from the federal complaint that charges four individuals with operating a prostitution ring. The complaint was filed in the Southern District of New York. It is reported that Client-9 is New York Gov. Eliot Spitzer. Temeka Lewis is one of the four defendants. "Kristen" is a prostitute marketed by the Emperors Club under that name, the document says. QAT, mentioned in section 75, is a bank account customers used for payments. 

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New York Governor and Anti Online Gambling Crusader Eliot Spitzer Tied to Prostitution Ring
 

Posted Mar 10th 2008 11;04 am by Christopher Costigan
Filed under:
Gambling News

New York Governor Eliot Spitzer has informed his administration he was entangled with a "prostitution ring".  The disgraced Governor held a news conference shortly after 2 pm EST Monday.

Spitzer, who is married with three children, made cleaning up the ethics of state government a priority when he was elected.

According to the New York Post, Feds last week busted a diamond-studded international call-girl ring that offered well-heeled johns "fashion models, pageant winners and exquisite students" for up to $5,500 an hour - after one of the prostitutes turned on her pimp. The Times reported that it was unclear whether this was the ring Spitzer was involved with.

Read More on Eliot Spitzer and the Prostitution Ring here

 

RGA praises European Commission for opening probe into discriminatory US practices

 

Posted Mar 10th 2008 2:00 pm by Gambling911.com News Wire Staff
Filed under:
Gambling News

European Union to take action on behalf of European gambling operators 

Brussels, 10 March 2008 – The Remote Gambling Association (RGA) has welcomed today’s decision by the European Commission to launch an in-depth investigation into discriminatory practices by the United States (US) against EU gambling operators. The Commission’s decision follows a complaint filed by the RGA in December 2007 which asserts that the US Department of Justice is in violation of international trade law by threatening and pressing criminal prosecutions, forfeitures and other enforcement actions against foreign online gaming operators while allowing domestic US online gaming operators, primarily horse betting, to flourish.

"It is unfortunate that the industry has been forced to pursue this issue as far as a formal trade complaint," said Clive Hawkswood, Chief Executive of the RGA, a leading trade association based in London representing dozens of European online gaming operators. According to Hawkswood: "As the industry trade association, we cannot simply sit on the side-lines and watch while our members, who are already badly bruised by unlawful US acts, suffer the double whammy of being prosecuted for activities whilst US industry is not. By any analysis, the US policy is fundamentally unfair, and we are delighted that the Commission shares our concern and alarm,“ he said.

Hawkswood added: “The good news is that, although this is a very serious violation of the WTO rules, it is not a difficult issue to resolve. The US simply needs to end its discriminatory prosecution of EU companies, and their shareholders, who have after all been out of the US market for almost two years now. The US should have every interest in sensibly resolving the issue in a constructive way that draws a line in the sand and clarifies the situation. This is especially so in the case of the EU, given its previously negotiated settlement in relation to the US's anticipated withdrawal of its GATS market access commitment for gaming."

The US Department of Justice has repeatedly stated that all forms of online gambling are illegal, yet continues to enforce this view only in connection with non-US businesses. In October 2006, the US Congress passed a new law (the Unlawful Internet Gambling Enforcement Act, or UIGEA) which effectively criminalised online gaming provided by foreign operators. The UIGEA forced many leading EU online gambling companies out of the lucrative US market, despite a US commitment under the WTO treaties offering access to its domestic gambling market. The stock market-listed EU companies collectively lost billions in market value overnight when the UIGEA took effect, whilst US online gaming companies continued to operate unperturbed.

Over and above the substantial monetary losses suffered by their forced withdrawal from the American market, non-US companies have had to contend with actual or threatened prosecutions, forfeitures and other enforcement actions by US prosecutorial authorities under pre-UIGEA penal laws. As a result, the RGA has asked the EU to investigate the discriminatory enforcement regime as an illegal barrier to trade for EU businesses.


US Prepares for Web Gambling Hearing

 

Posted Mar 10th 2008 11:23 am by Clement James, VNunet.com
Filed under:
Gambling News

US authorities have promised a hearing in early April to explore the burden on US financial institutions to comply with the Unlawful Internet Gambling Enforcement Act of 2006.

The Act is intended to deter illegal internet gambling activities, as support for legislation to regulate internet gambling continues to gain momentum.

Congressman George Miller signed up last week as a co-sponsor of the bill introduced by Congressman Barney Frank, chairman of the House Committee on Financial Services.

"The banks have a lot of other things to worry about right now," said Frank, referring to the mortgage crisis and other challenges. "I do not think poker should be one of them."

Hundreds of comments submitted to the US Department of the Treasury and the US Federal Reserve are understood to highlight the ambiguity in the proposed rules to implement the Unlawful Internet Gambling Enforcement Act 2006.

One of the major criticisms is that the rules do not clearly differentiate between legal and illegal internet gambling activities.

Concerns raised by the American Bankers Association and others state that the proposed rules will be a compliance trap and are not likely to stop citizens gambling with foreign-based internet gambling operators.

"This hearing is significant and must address the issues being raised by the financial services sector and others," said Jeffrey Sandman, spokesman for the Safe and Secure Internet Gambling Initiative.

"The proposed Treasury Department regulations are unclear, burdensome and untenable. It becomes clearer each week that the attempt to prohibit internet gambling activity is doomed to fail.

"Rather than waste valuable resources attempting to enforce the Act, the US should instead regulate and tax internet gambling."

The Act would require licensed operators to put in place safeguards to protect consumers, and ensure that the individual placing the bet or wager is physically located in a jurisdiction that permits a particular form of internet gambling.

US states would also have the right to control what, if any, level of internet gambling is permissible within their borders, and could apply additional taxes and restrictions.

A companion piece of legislation that would ensure the collection of taxes on regulated internet gambling activities was introduced earlier this week by Congressman Jim McDermott.

The Internet Gambling Regulation and Tax Enforcement Act of 2008 strengthens provisions in an earlier version of the bill introduced last year.

A recent letter sent by Congressman McDermott to fellow members of Congress stated that, according to a tax revenue analysis prepared by PricewaterhouseCoopers, taxation of internet gambling is expected to generate between $8.7bn to $42.8bn in federal revenues over its first 10 years.

 

US Government May Not Appeal Ruling in UIGEA Online Gambling Decision
 

Posted Mar 10th 2008 11;04 am by Christopher Costigan
Filed under:
Gambling News

A decision by a US Supreme Court Judge to remove criminal liability of banks for failing to stop transactions related to online gambling is not likely to be appealed by the Government, experts believe.

A Judge last week ruled that banks, credit card company and cash processors cannot be held criminally liable as previously stipulated by the Unlawful Internet Gambling Enforcement Act.  An independent trade organization, iMEGA.org, challenged the "policy enforcement" aspect of the UIGEA.

The law was originally drafted to prosecute banking institutions and credit card firms.

But the banking sector is in complete disarray these days thanks mostly to a housing market crisis and many believe the US Government will back off in terms of an appeal that would be based exclusively on grounds that banks should be held criminally liable for something the industry insists they have no control over.

The banking sector insisted all along that "compliance was virtually impossible".

An 11-page letter drafted by the American Banking Association (ABA) and submitted to the US Treasury in December illustrates this point.

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