Some good news on the Online Gambling front
I was actually glad to read a fascinating story today concerning online gaming. I am a big fan of places like gaming news and other purveyors of online gaming news. As someone who has loved gambling for quite a while now, first as someone who loved off- track betting on horses and for the last 7 years primarily engaging in sports betting, this industry fascinates me. Online gaming and gambling in general seems to me an industry that is a sleeping giant, an industry that will one day be legitimate and far more enormous than it is now. All you have to do is see the popularity of states that adopt lotteries or other forms of gaming to realize how widespread gaming is and can be and the incredible revenues it brings in to states and people who need it when it is properly regulated.
The story concerns a sportsbook that I actually lost money in when the ceo was arrested. News reports are stating that the United states government has opened the process of giving online gambling winnings to people around the US who feel they are owed the money from BetOnSports.com. The websites founder, Gary Kaplan, reached a plea agreement with the US last week, and he was forced to hand over $43.65 million to the government.
The government is preparing to allow customers of BetOnSports.com to fill out a petition stating why they are owed money. If everything checks out, people who lost money with B.O.S might be entitled to receiving the funds.
People shouldn’t be too prepared to jump right in though and claim their lost funds, some people are suggesting that the government is fishing for information but I really don’t think so. Alot of folks are rightly pointing out the hopelessness of trying to outlaw online gaming and the incredible loss of revenues the country needs right now.
On Tuesday, the government website forfeiture.gov published a notice asking for anyone who believes they are owed some of the $43.65 million seized to file a written petition for their lost funds. Stay tuned to our site for more news on this interesting development in the governments war on gaming.
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