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US Authorities Detain Online Casino Executive and Market Sores

The fight against online casino gambling in the United States has gone to the next level. An executive of one of the major online casino sites has been detained by the Department of Justice and faces several charges that relate to his online casino business, and the online gambling industry suffers as a result. Shares dropped drastically as news came of the arrest. It seems that any legal action towards the online gambling community will result in severe financial repercussions.

The plans of the Department of Justice are unknown, and as a result, parties at the online casino industry suffer from their shares dropping. The future of the online casino industry has a big question mark on it, when it comes to the United States market for quite sometime. Now, that question mark is starting to fade, and the answer is unfavorable. It is still soon to tell what will be the legal status of online gambling in the States, but with the Goodlatte bill heading for Senate and DoJ arresting online casino executives things are not looking that great.

Online gambling will still be available no matter what the United States authorities decided to do, as most of the online casino sites are operating offshore. The gambling audience in the United States is the largest online gambling market in the world and American will not simple give up their online casino gambling. We will have to wait and see what will be the next steps for the DoJ, online casino companies are standing still and waiting for further developments as well, before making any decisions about their business plans.

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.

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