Losing the War on Internet Gambling

Though the latest prohibition renders it illegal for US banks and credit card companies to facilitate the transfer of funds between American residents and online gambling websites, according to industry analysts, online gambling isn't going away soon. Congress' assumption was: if online gamblers cannot deposit money to online betting sites, not to mention collect their winnings, they will simply stop gambling. Yeah, right.

According online sports betting expert Russ Hawkins, some Americans have indeed stopped wagering on sports over the Net due to the law, but devoted gambling buffs are fast finding new ways to get their fixes.

Immediately after the Unlawful Internet Gambling Enforcement Act (UIGEA) was signed into law, loads of gaming enthusiasts simply altered their payment methods. Instead of banks and credit cards, they're swiftly shifting to online money-transfer services referred to as e-wallets that are typically located outside the US.

Although the number of people betting on the Super Bowl via the Internet dropped by about 35% compared to a year ago, and the same slump can be expected during the upcoming NCAA basketball tournament, Mr. Hawkins is quick to point out that he expects online sports wagering to resume at their regular levels again.

Eventually, Hawkins continues, Americans won't use American currency to gamble with. Instead they will use British pounds or euros or Canadian dollars. One thing is certain though: Online gambling ain't going away.