888 And Bwin Shares Soar As United States Betting Rivals Closed
bet9ja.com
888 and Bwin shares skyrocket as US wagering rivals closed
18 April 2011
Shares in London-listed online betting firms rose after some huge poker sites in the US were shut for supposed unlawful activity.
bet9ja.com
At the close of trading, Bwin were up 30% and 888 up 15% as financiers speculated that the US closures would boost their operations.
bet9ja.com
On Friday, 11 individuals connected to three significant poker websites were charged with offences, including scams.
The US probe involves 3 websites: Full Tilt, PokerStars, and Absolute Poker.
US authorities implicated the 3 online poker sites of manipulating banks to process billion of dollars in illegal profits.
According to Execution Noble expert Geetanjali Sharma: "The closure of the primary competitors' operations and the US legal proceedings started against them must benefit European listed operators."
bet9ja.com
Playtech, another gaming website, likewise saw its shares jump 11%.
'Criminal fraud plan'
bet9ja.com
Prosecutors in New York City on Friday said they had released restraining orders against more than 75 savings account in 14 countries used by the poker companies.
US Attorney Preet Bharara stated the websites "created an elaborate criminal scams plan, alternately fooling some US banks and efficiently bribing others to ensure the ongoing circulation of billions in unlawful betting earnings".
The indictment said the three gambling sites did not comply with the US Unlawful Internet Gambling Enforcement Act, established in October 2006.
The law makes it prohibited for gambling organizations to accept most types of payment from individuals associated with unlawful internet gaming.
The indictment looked for $3bn (₤ 1.8 bn) in money laundering penalties and forfeit from the websites.
The authorities said Absolute Poker had stated soon after the law was enacted that the US Congress had no control over the company's payment transactions.
PokerStars published a statement to its gamers on Saturday, saying it needed to suspend genuine cash play for consumers based in the US.
"Please be guaranteed player balances are safe. There is no cause for issue," the business stated.
bet9ja.com
"For all consumers outside the US, it is business as typical."
bit.ly
A message posted on the PokerStars.com website by the FBI said the firm had actually seized the domain name in connection with the examination.
Ladbrokes ends 888 takeover talks
15 April 2011
US states gamble on online poker
25 March 2011