On other hand I had to scratch my head as clearly the Department of Justice and the United States Government continues to contradict itself at nearly every turn in its approach to handling the online gambling industry.
First, and most obvious, if want they want from these companies is money, then why not license and regulate them? If this step were taken the $33 million Sprortingbet agreed to pay over the next three years would truly be a pittance.
If indeed they don't want to regulate, then what is with this "selective prosecution?" Clearly we have individuals in this industry with divergent and varying backgrounds, but even their prosecution has cast its net to include individuals with "shady" pasts as well as those with impeccable personal and professional records.
Admittedly I have been relegated to becoming an observer to an industry in which I devoted most of my professional career to during the last decade so I don't have the back story and insight into these stories that maybe I once did, but even on the surface this is a head scratcher for me.
Taking a step back though, and looking at the bigger picture of the industry, the fact that such deals like these are being made with DoJ now is a clear sign of a policy shift in the U.S. government. 5 years ago a publicly listed company paying millions of dollars to be exempt from prosecution would have been out of the question. It was impossible to get to government to even open up dialogue with most publicly listed companies back then.
Maybe key decision makers are starting to realize that it only makes sense (and lots of CENTS) to allow adults in the U.S. to gamble online if they so choose, since the same activity at a brick-and-mortar casino is allowed in more and more states every year.
To read the Business Week story on the deal between Sportingbet and the DoJ, click here.
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