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Horseracing Community Uses UIGEA’s Inconsistency

The United States horse racing industry is urging Americans to use the internet for gambling. That’s right; gamble using the internet. Under the new Unlawful Internet Gambling Enforcement, gambling firms are unable to conduct their business in the United States as financial companies won’t handle their accounts. It is illegal to offer financial services for firms that offer online betting for Americans – unless we are talking about horse racing. Apparently, horse racing and poker are not on the same side and when horse racing is concerned, gambling using the internet is perfectly fine.

Americans that miss their favorite online gambling sites might find comfort in new attractions. True, betting over a horse race isn’t quite like sitting around the poker table, but you take what you can. All in all, the horse racing experience is much more interactive. Players can watch the race live through the site’s interface while betting. This gives a feel of “actually behind there” and makes the gambling experience much more exciting. The entire experience is much more video-based with online playbacks available and other visual candies. The gambling site will act as a media center for the player; were he could gain information and then use it for betting.

Currently, TVG Interactive Horseracing is offering horse racing betting on the net. As the legal mist surrounding the Unlawful Internet Gambling Enforcement Act is slowly being scattered, additional firms would like to offer online horse racing betting. The online casino gambling industry has left a huge void in the online American market and a firm that would be wise enough to enter that specific place, would benefit greatly. People want to gamble, there’s no question about that. At first, the industry was very unhappy with the biased stand of the anti online casino bill. How come poker is banned but horseracing is allowed? Now, the industry is focused at making profits were it can. Biased or not, it is possible to offer this kind of internet gambling, and you can bet on gambling firms doing just that.

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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