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Online Casino Busts in New York

Following the enactment of the Unlawful Internet Gambling Enforcement Act last year, the American market hasn’t been the same. The unclear bill lead some online casino companies to believe that they can operate in the United States and, at times, when they realize that they have been breaking the law – it is too late. News come from New York saying that the local police have arrested several individuals for operating an online casino sports betting ring for a Costa Rican based online casino company. Recent reports indicate that two ex-policemen were among those arrested.

The online casino operation is valued at sum $30 million as it catered for the New York, New Jersey and Connecticut areas. The operation involved around 64 people, and used an online casino website to disguise their business as legitimate. Like with any other industry, you will always find a few rotten appeals, but that does not mean a thing about the entire industry that this people took advantage of. The legal situation in the United States is complicated enough, and such incidents are clearly not making things easier. People that would like to play at online casino sites and know that they are not breaking the law should always play at trusted sites that carry seals of approval.

Playing at sites that are operating from outside of the United States could be the wise thing to do. The best thing is to know the local law well. Online casino gambling is not banned throughout the United States. The new bill prohibits financial companies from dealing with online casino firms, but it does not say that the act of gambling is illegal. As long as you know the law where you live, and you are not breaking it yourself – everything will be fine. Online casino gambling is pure fun and a means of home entertainment. Europe has realized that online gambling is a positive industry, and hopefully the law in the U.S. will also shift towards a better solution. Be on the safe side, and keep having fun!

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.