bet9ja.com
888 and Bwin shares soar as US wagering rivals closed

18 April 2011

Shares in London-listed online wagering firms surged after some huge poker websites in the US were shut for alleged illegal activity.
bet9ja.com
At the close of trading, Bwin were up 30% and 888 up 15% as investors hypothesized that the US closures would boost their operations.
bet9ja.com
On Friday, 11 people connected to three significant poker sites were charged with offenses, including scams.

The US probe involves 3 websites: Full Tilt, PokerStars, and Absolute Poker.

Federal US authorities accused the three online poker sites of controling banks to process billion of dollars in unlawful revenue.

According to Execution Noble analyst Geetanjali Sharma: "The closure of the primary rivals' operations and the US legal procedures started against them must benefit European noted operators."

Playtech, another video gaming website, likewise saw its shares leap 11%.

scheme'
bet9ja.com
Prosecutors in New York City City on Friday said they had provided restraining orders versus more than 75 bank accounts in 14 nations used by the poker companies.

US Attorney Preet Bharara stated the sites "concocted an intricate criminal fraud scheme, at the same time fooling some US banks and efficiently bribing others to assure the ongoing flow of billions in unlawful betting revenues".

The indictment said the three betting websites did not stick to the US Unlawful Internet Gambling Enforcement Act, developed in October 2006.

The law makes it unlawful for gambling services to accept most forms of payment from individuals associated with unlawful web gambling.
bet9ja.com
The indictment sought $3bn (₤ 1.8 bn) in cash laundering charges and forfeiture from the sites.
bet9ja.com
The authorities stated Absolute Poker had said soon after the law was enacted that the yohaig code US Congress had no control over the company's payment transactions.

PokerStars published a declaration to its players on Saturday, saying it had to suspend real money play for clients based in the US.

"Please be guaranteed player balances are safe. There is no cause for issue," the business stated.

"For all consumers outside the US, it is organization as usual."

A message posted on the PokerStars.com site by the FBI said the agency had actually taken the domain name in connection with the investigation.

Ladbrokes ends 888 takeover talks

15 April 2011
bet9ja.com
US states gamble on online poker

25 March 2011
bet9ja.com