Online Gambling Still in the Cards?

Loopholes in the Unlawful Internet Gambling Enforcement Act may render it ineffective in preventing online betting

It's a safe bet that the passage of anti-Internet gambling legislation by Congress has effectively ended the party for Gibraltar's PartyGaming (PRTY.L) and other online betting companies based outside the U.S. The bill, named the Unlawful Internet Gambling Enforcement Act, would prohibit credit card companies and other payment providers from processing online gambling transactions. Both supporters and opponents expect President George W. Bush to sign the bill into law in the next two weeks.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.