USA businesses and the Internet gambling
In our weekly editorial on the Internet
gambling industry, we have decided to look into the USA business
ethics, when it comes to gambling online.
The news that Yahoo! Inc. (NASDAQ:YHOO), the
California based internet service company, has opened an online
poker room which would target primarily U.K. residents seemed to
be a surprise to many people. And it should not. Not just
because gambling is by far the most lucrative business in the
world after baby food manufacturing, but it's because this
illustrates the business practice of most US companies.
Many people saw the news about Yahoo getting
its own poker room due to the high Internet profile of the
company, but if they were to keep with the online gambling
industry on a daily basis - they would not have been all that
surprised. People seem to be surprised mostly because Yahoo!
Inc. is an American company which operates online gambling
website, where foreign online gambling websites are not allowed
to operate in the US.
Well, folks, though stuff, but it's the E.U.'s
and other countries fault. They should have hammered better laws
to prevent US companies operating online gambling websites in
their countries, the same way US did. But that's not my point.
My point is that the fact that Yahoo! Inc. has an online poker
room in the US is nothing new.
Here is an old news that we have published,
and you may have missed:
US gambling company to launch online
casino - The Las Vegas Sands is opening an online
casino which targets U.K. citizens. The new online casino will
have its license issued by the U.K. and Cantor Gaming will
provide the software. On the same note, Harrah's Entertainment
was the last to try online gambling in Britain, but failed just
six months after it opened virtual doors in 2004.
How about a "little somethin'-somethin' for
the online gambling advertisers? Well, how about the fact that
The Walt Disney Company (NYSE:DIS) is running advertisements for
online betting and gambling websites? You didn't know that? Oh,
yeah, the ESPN.com, which is owned by Disney along with ABC and
FamilyFun, runs advertisements for
Bet365 and Skybet. So the good
ole Disney is making money off of online gambling, too.
Do not be surprised if more US companies start
opening their own online casinos, poker rooms and online betting
websites. It's just too lucrative for them to miss on such an
opportunity. Will MySpace have a gambling website? Possibly.
MySpace is owned by News Corp. (NYSE:NWS.A) and everything is
possible when it comes to Mr. Murdoch.
Political rant: We all know that Congressman
Jon Kyl, and the rest of the sponsors of the Internet gambling
ban in the US, claim that Internet gambling is addictive and
hurts minors. I would love to hear what those prominent US
legislators think about the fact that US companies are
benefiting from the minors and addicts in other countries. And
Disney for Christ sake...