US Shock Bill Sneaks through the Senate

This article comes from Highwaygames.com

People are still reeling from the news that a bill that basically stops the credit card companies and banks from processing bets from online gaming companies, has actually made it's way through the US Senate and the US President could make it law any day.

This industry is estimated at around $6 billion in US dollars or about $8 billion in Australian dollar terms. This bill will have far reaching consequences and will deal a savage blow to many high flying companies such as Betcorp and their shareholders. However the bill doesn't go after such things as the American lotteries and casinos.

The bill comes on the heels of major recent arrests of high profile businessman in the industry including Sporting Bet's former chairman, Peter Dicks & David Carruthers chief executive of BetonSports.

Even though issue has been brewing for many, many years and was always eventually going to surface. It has caused many prominent business to seriously consider closing their US opearation including 888 holdings and Sporting Bet.