More Consolidation in Online Gambling Sector
Two more online gambling ventures have been taken over by stronger firms this past week.
It was announced earlier in the week that 5Dimes.com had taken over the Sportbet/Island group of online betting shops, which had been looking for a buyer over the past number of years.
Sportsbet was among the first online sportsbooks to set up in the Central American nation of Costa Rica. 5Dimes is located in the same building.
Gamblers Palace, a 10-year old betting company, was purchased by the Gambling911.com endorsed Bookmaker.com, which is the oldest established online sportsbook catering to North American bettors.
The former owner of GamblersPalace outlined to the Off Shore Gambling Association how hard it is for a small book to make it these days. "Between fraud, smaller margins and the downturn in the U.S. economy, it's nearly impossible to make it on your own, unless you're the size of these guys (Bookmaker)." He went on to add that GamblersPalace customers have for the most part been very happy with the change.
Christopher Costigan, Gambling911.com Publisher
