Here is the first report on the 60 Minutes feature.
Looks as if Cohen and online gambling came out of it rather well.
JAY COHEN 60 MINUTE INTERVIEW FAVORABLE
written January 7th, 2001 by The Sting
01.07.01 The much anticipated 60 Minutes broadcast interview with Jay Cohen and his former partners at World Sports Exchange turned out to be especially favorable towards the betting public in general. One person I spoke with who was not a gambler, immediately following the report, concluded there were a number of hypocrisies surrounding the US Government and their stance on Internet gambling.As expected, Arizona Senator, Jon Kyl (R), who authored the failed Internet Prohibition Act, enjoyed very little limelight in the 60 Minutes airing. His appearance on the program - less than 60 seconds. Much of the story focused on Jay Cohen and his two former partners back in Antigua, Steve Shillinger and Hayden Ware.The 60 Minutes report highlighted the advantages of betting online more so than any downfalls that might be associated with such activity."Betting on football is more of a past time than the sport itself," said reporter Morley Safer.World Sports Exchange owners claim their company is the single most profitable online gaming venture on the Net today, claiming their business has doubled its profits each year since 1996 after initially breaking even. The 60 Minutes report suggested there were very few companies similar to World Sports Exchange which are fortunate enough to turn a profit. And while the founders would not discuss specific financials, they did confess to making "multi millions".Not until about half way through the report did the story set focus on any legal aspect of the World Sports Exchange story. After a brief appearance by Jon Kyl, 60 Minutes quickly returned back to Jay Cohen, who shot down anything that the Arizona Senator told Morley Safer."What's the first thing that happens when you walk into a casino?," Cohen asked, "The first thing they do is offer you drinks, then more drinks." He then went on to suggest that if Kyl were really serious about his stance, he would speak out against the promotion of drinking alcoholic beverages in land-based casinos.Ben Brafman went one step further. "Statewide lotteries are a form of gambling yet in the courthouse where Jay Cohen's trial was being held, you can go to the lower floor and purchase a lottery ticket."The 60 Minutes report did make mention that when the Wire Act was first adopted back in 1964, nobody could have envisioned cyberspace and therefore, the law itself is fairly useless when applied in that sense.Just as in similar news features, Antigua once again was portrayed as PARADISE, complete with the boat shots; sparkling blue ocean waters; quaint outdoor bars; and this time, even a golf course....some things never change.According to Steve Shillinger, "If you are going to be trapped any place, this is not a bad place to be trapped."No doubt a few politicians had to be grinding their teeth when all was said and done.....some of them probably even WISHING they were there. |
