Obama Good for Online Gambling?
November 5, 2008 (InfoPowa News) — In the wake of Barack Obama's victory in the U.S. presidential elections this week, speculation on Internet gambling websites and message boards has been rife on whether this will mean a more sensible approach to the regulation of Internet gambling in the U.S.A.
While many of the opinions are based on personal views and political perspectives, one hard-nosed business assessment was published by the respected international analysts, brokers and business consultants Merrill Lynch, which encouraged gambling companies by saying that an Obama victory could well lead to more open markets in the U.S.
"We think it could ultimately pave the way for online gaming regulation rather than prohibition," the broker said, highlighting Democratic moves by Congressman Barney Frank to repeal the Unlawful Internet Gambling Enforcement Act, introduced in October 2006 to prohibit the transfer of funds from financial institutions to internet gambling firms.
"There have been separate acts to legalize internet gambling as well as those that particularly target poker and other games of skill. We think that with a Democrat president and Democrat-dominated Congress, such legislation would likely have a greater chance of being passed through."
The prospect of freer markets across the Atlantic boosted Partygaming by 6.15 percent or 8p to 138p, and 888 Holdings, up 12.46 percent or 9.5p at 85.75p.