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Online Casino Fans Witness eBay Action

BetbyInternet, an online casinos sportsbook, backpedaled following an action by eBay to stop its $100,000, hugely publicized auction for a pre-paid membership to be used for online casino gambling. eBay believed that the auction was taking ‘…encouraging illegal actions.’ A reserve price for the lot was placed at $49,000, which was less than 50 percent of the face value of $100,000. The online casino seems undeterred in finding a solution for this legal barrier.

Randal Zuniga, VP of Operations for the online casino, plans to conduct an auction similar to that of eBay’s, but this time around, the prize will be a pre-paid gambling trip to Sin City. ‘Gambling is legal only in Vegas,’ Zuniga said. ‘So my guess is that eBay should not have a problem with this type of auction.’ Because the law is so fuzzy when it comes to online gambling and online casino operations, it is difficult for officials to decide what is legal and what is not when it comes to this growing industry.

For now, online casino sites will continue to operate and offer promotions and prizes to their loyal online casino fans. What will happen regarding future auctions, the legalization of online casinos, and all other subjects relating to legally allowing players to gamble at online casino sites will remain under discussion until final decisions are reached.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.