policy
I live in the UK. There is no law against more or less anything to do with gambling, other than very tight restrictions on land-based casinos. This is sensible as it means the Gvt makes piles of money on taxing gross profits, whereas the US loses out on all this revenue due to the fools in the White House having forced all you guys offshare.
Betfair and the others are basically shit scared about the US Attorney General. For whatever reason, Bet 365 are more relaxed about it.
I live in the UK. There is no law against more or less anything to do with gambling, other than very tight restrictions on land-based casinos. This is sensible as it means the Gvt makes piles of money on taxing gross profits, whereas the US loses out on all this revenue due to the fools in the White House having forced all you guys offshare.
Betfair and the others are basically shit scared about the US Attorney General. For whatever reason, Bet 365 are more relaxed about it.
As I understand it, Betfair's third round of funding came partly from some US banks and they are very keen that Betfair stay out of the US. I know the old management (all since replaced by big corporate suits with MBAs and no knowledge of gambling) looked very carefully at the US market and decided to leave it alone for now.
The Coates family, who own Bet 365, have a pile of money so don't need to worry about outside funding.
The Coates family, who own Bet 365, have a pile of money so don't need to worry about outside funding.
There are no British laws stopping British Books taking bets from US citizens, however they are breaking US laws. Whether they do or dont is wholly political, lots of change can happen in the next 5-10 years and some companies uphold the law hoping to be seen in a better light should the US start granting betting licenses, those who broke the law would surely be in a dodgy position. So I suppose its a long term gamble on what people think will happen in the States.
