More Information on CNBC’s Upcoming Gambling Program

Mark your calendars Gambling911.com readers.  Next Wednesday December 16, 2009 CNBC will present its original program "CNBC Investigates:  The Big Business of Illegal Gambling".  Until now we knew very little about the program other than what we were seeing in promos. Beyond the Las Vegas strip there's a thriving underworld of illegal gambling. It's a multi-billion dollar business and millions of Americans are in on the action...

CNBC has now released more information. "From sports betting to online casinos to high-stakes poker, a high percentage of the betting is placed illegally, according to the soon-to-air report."

Much of the report will focus on illegal bookies operating within the United States it appears.

"Interviews with "Paul," an illegal sports bookmaker who knows each bet he takes can land him in jail; professional gambler "Vegas Runner" who takes his job as a gambler as serious as any Wall Street trader takes his job; and the dangerous case of Nick Sarillo, a restaurant owner who freelances as a bookie, crosses the Mob and pays a heavy price; shed light on this lucrative, but risky activity."

World Sports Exchange founder Jay Cohen is interviewed as part of the piece.   He was indicted in March of 1998 and served nearly two years in prison for violation of a 1962 "Wire Act".

CNBC does speak with representatives from both side of the spectrum when it comes to legalizing online gambling.  While they mention Congressman Bob Goodlatte, a Republican from Virginia and author of The Unlawful Internet Gambling Enforcement Act" (UIGEA) as well as Congressman Jim McDermott, a Democrat from Washington State and the sponsor of a bill that would regulate and tax online card games, there is no mention of either Congressman Barney Frank, who has sponsored legislation to repeal the UIGEA, or Senator Jon Kyl, one of the fiercest critics of legalized online gambling and the man most responsible for pushing through the prohibition measure.

Never-the-less, this promises to be an interesting program. 

To its credit, CNBC's original shows are quite well done and the network regularly reports on updates within the Internet gambling sector.

Jagajeet Chiba, Gambling911.com 

Submitted by Jagajeet Chiba on Thu, 12/10/2009 - 21:57
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Comments

Gambling

Fri, 12/11/2009 - 02:25 — Guest
When the government wants to offer gambling in the form of lotteries, they make it legal. When the private sector offers gambling, they call it dishonest without government regulation. In any case, US government officials are the worst sinners of all because they use their power to abuse those who are not good at what supposedly make a person honest: Public speaking. This is really the opposite of what is true, because public speakers have the spirit of comedic lying when times get hard. Instead of making the gambling industry suffer, US government officials should show mercy and help to foster more quality public speakers. What this should do is turn those who love into suffering liars.