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Online Casino Playing By the Law

Although the United States decision to ban online casino gambling by law and prevent any financial institution from handling any transactions between American individuals and online casino companies has received much criticism, the industry is playing along. The ban is accused of being protectionist in nature, lobbied for by land based casino companies who feared their monopoly of gambling in the US. It is also accused of closing the door, cold turkey style, on a hobby of many millions of online casino gamblers in the US. Neither fair nor honest, the ban is in place.

As long as this is the law, online casino companies must comply of face the consequences. One online casino sportsbook, Ready2bet, has moved its operations to Costa Rica and re-launched its sports book in a new setting. Operating from Costa Rica and Europe, it will have to go by laws other than those in the US and still be open for US gamblers. Additionally, from publicly listed company, the online casino will become a private company. The law it will go by will be Costa Rica’s, not the United States.

“We have reconstructed our business model to adapt to all the necessary legal changes, and now we are able to stay loyal to our US customers,” said a spokesperson for the online casino. It will offer much of the same gambling events as before, only this time in a different legal setting. Players from all over the world, the US included, will be able to find sports events such as professional sports league games, horse racing and much more. They will also be catered a choice of funding methods that are easy to use and instant, leaving the legal complications behind, or at least so they hope.

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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