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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: Troy Griffin who wrote (4996)	9/15/2000 10:39:10 AM
From: kidl	Read Replies (1) \| Respond to of 5164

Upside Magazine … Special Report "Online Gaming Takes Off" upside.com … " Operating an online gambling site within the United States is illegal under the 1961 Interstate Wire Act, a Kennedy-era War on Crime law designed to curb interstate bookmaking. But there's no prohibition on U.S. residents and others visiting gambling sites and plunking down dollars using their credit cards. And come they do, leaving on the table net losses -- half of them from U.S. players -- that amounted to roughly $1.2 billion in 1999, according to Christiansen Capital Advisers. These gambling losses, it estimates, will rise to $2.2 billion this year and about $6.4 billion by 2003. In the industry parlance, these numbers represent the casinos' "net win" -- that is, total wagers minus total payouts. "It's important for people to realize that gambling is an entertainment for which they must pay." The online casinos are based mostly in Antigua, in Costa Rica, and on one huge server farm located on a Mohawk reservation near Montreal, Quebec, explains Sue Schneider, chair of the Interactive Gaming Council (IGC). Gamblers on the sites can engage in five kinds of wagers: bingo, pari-mutuel games, sports books, casino games and multiplayer poker. IGC estimates that there are roughly 1,000 online casinos in operation, run by 250 operators. Last year at this time, the River City Group counted only 650. Some governments, like those in Australia, are getting in on the action with online-lottery operations." …