October 13, 2006
Cyberscholar Tom Bell argues
that the Unlawful Internet Gambling Act won’t stop most Americans from
playing poker and placing bets as they did before. He makes a solid
argument, but color me skeptical
in light of PartyGaming’s and 888’s massive stock price drops and
public statements about blocking US customers. At the very least,
investors think the future is highly uncertain, and that will impact
the trajectory of online poker and betting.
But here’s one more reason to believe Bell — PokerStars will,
at least for the moment, continue business as usual. The way I read it,
they’re waiting to see how the financial transaction regs play out, and
that will take many months. Stay tuned…
Hat tip: Iggy.