SportingBet.com Still Duking it Out With the US
Tuesday, September 28th, 2010Sportingbet.com is a company that has long been in debates with the US government over whether or not it acted illegally prior to the UIGEA of 2006. The UIGEA of course was the Unlawful Internet Gambling Enforcement Act. It was put in motion to stop online gambling but lacked a lot of definition. It basically tasked financial institutions with monitoring, flagging and denying any activities that were related to gambling online. Banks because overly cautious of gambling though and started to deny transactions that by all accounts should have been approved. It got some companies into a lot of unwarranted trouble. The problem was that the UIGEA never defined what gambling truly is; it never answer the question of what gaming companies are to be held liable and denied transaction approval.
Other companies are coming up with problems now. They are having difficulties blending into the market. Sportingbet.com is one of them. Prior to the UIGEA the company was well established in the US market. The US Department of Justice reported that Sportingbet.com took bets from US residents after the UIGEA was already passed. Other sports wagering companies pulled out almost immediately for fear of breaking laws but Sportingbet.com decided to keep operating. Those operations are now the ones that are in question by the US government. The problems are almost over though. The company announced that it has long been in litigation with the government, but has finally reached a settlement. The company is paying $33 million and hoping that once the door for legal gambling in the US are opened, it can regain its position in the market. The US market is a big one and every company is looking to capitalize on it. In the market today there are many changes coming about and Sportingbet.com wants to fight for the right to continue marketing in the US, but without fear of breaking rules. It already has a great business model and can gain US gamers—it did that once before. It should not have a problem of rebuilding its market. considering that it already has a great reputation for sport betting in other countries it should not be a problem for it to move in on the US market in the near future once legal things are settled.

