Internet gambling stocks: A good time to buy?
Get 'em while their hot....or better yet, get 'em while their not. In the wake of a blood bath that witnessed internet gambling stocks come crumbling down Monday right through into Tuesday, one has to ask themselves: Can it really get any worse?
Aside from PartyGaming and 888.com, most of the other internet gambling firms trading on the London Stock Exchange seem poised to stay put and continue catering to the US market.
Following the passage of an internet gambling bill that sailed through Congress Friday night as an attachment to the popular ports security measure, the online gambling community including the nearly 100,000 member strong Poker Players Alliance, were left wondering if they still had an industry to call their own following Monday's stock carnage and the biggest online poker site, PartyPoker, announcing plans to leave the US.
The banking sector and attorneys calmed nerves somewhat with some encouraging news that gamblers themselves would not be held liable and that banks could only enforce regulations with credit cards.
If a bill passes Congress ordering all hospitals to ensure there is a cure for cancer within a nine month period to cut down on health care costs, that doesn't mean the hospitals would be able to comply. A similar situation exists here where banks have already informed lawmakers they can not and will not be able to monitor checking instruments used for the purposes of online gambling within 9 months, or maybe even 9 years for that matter. The technology is available the same way we have the technology to drive fuel free Hummers. In other words, it's not.
So with that bit of news, can things really get much worse?
Read more
Aside from PartyGaming and 888.com, most of the other internet gambling firms trading on the London Stock Exchange seem poised to stay put and continue catering to the US market.
Following the passage of an internet gambling bill that sailed through Congress Friday night as an attachment to the popular ports security measure, the online gambling community including the nearly 100,000 member strong Poker Players Alliance, were left wondering if they still had an industry to call their own following Monday's stock carnage and the biggest online poker site, PartyPoker, announcing plans to leave the US.
The banking sector and attorneys calmed nerves somewhat with some encouraging news that gamblers themselves would not be held liable and that banks could only enforce regulations with credit cards.
If a bill passes Congress ordering all hospitals to ensure there is a cure for cancer within a nine month period to cut down on health care costs, that doesn't mean the hospitals would be able to comply. A similar situation exists here where banks have already informed lawmakers they can not and will not be able to monitor checking instruments used for the purposes of online gambling within 9 months, or maybe even 9 years for that matter. The technology is available the same way we have the technology to drive fuel free Hummers. In other words, it's not.
So with that bit of news, can things really get much worse?
Read more
posted by Postcards From The Ledge at
5:52 AM
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