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***GambLux EDITOR NEWS*** |
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Online gambling: interesting facts
[Wednesday, July 19, 2006]
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Gambling sites are not allowed to operate from the United Kingdom and therefore most are based in offshore jurisdictions such as Gibraltar, Cyprus, Antigua and Costa Rica.
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- Online gambling sites generated £6.5bn in 2005.
- Eight million US residents placed bets on the web, making up about half the market. Worldwide revenue from online gambling is expected to hit £13.4bn by 2010, according to estimates.
- In the USA, a 1961 law forbids interstate telephone betting which the Justice Department says also applies to the internet, but Americans bet via access to thousands of foreign websites.
- Earlier this month, the US House of Representatives passed a bill to block most forms of internet gambling.
- The big three UK-listed firms are Gibraltar-based PartyGaming (market capitalisation £4.1bn), Sportingbet (market capitalisation - £1.2bn) and 888 (market capitalisation - £657m).
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