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Written by Thomas Jensen
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Friday, 20 April 2007
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 A desperate Arizona Senator Jon Kyl tried to force a commitment from Attorney General Alberto Gonzales on the enforcement of the Unlawful Internet Gambling Act (UIGEA) yesterday in hearings about the "Firing of US Attorneys” scandal. UIGEA makes it illegal for financial institutions to knowingly allow transactions to internet gambling companies.
Jon Kyl started out on topic with his first question to Gonzales which was about the firing of the United States attorneys.
In his second question, the Republican Senator asked Alberto Gonzales for a meeting to discuss "crime victims" and Gonzales agreed to a meeting with Kyl. What do you think they are going to be discussing in that meeting besides "crime victims"?
Finally, he could not wait to get through the first two topics to talk about his crusade to strip away freedoms from American citizens by trying to cut off funds to internet gambling websites.
Kyl started off praising Alberto and the Justice Department for their performance in the recent crackdown against the industry. Executives of two publicly traded AIM listed companies, BETonSPORTS and NETeller, were recently indicted by the Department of Justice.
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Last Updated ( Friday, 20 April 2007 )
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Written by Thomas Jensen
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Thursday, 19 April 2007
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 I can barely remember a time when the online gambling industry did not talk about Bodog.com or Calvin Ayre. When Ayre rolled out Bodog.com, the entire industry laughed in his face. Back then, none of the old school bookies believed that Bodog would become the powerhouse it has grown into. Everyone dismissed it as a really bad marketing gimmick and Ayre was completely underestimated by all of his competitors.
“What the hell is a Bodog anyways?” stated one old time bookmaker to me on one of my trips down to Costa Rica.
Over time, the old timers began to wise up. I would visit several online sportsbooks on each of my four yearly trips down to CR and at one point or another either Calvin or Bodog would come up in conversation. This time, everyone wanted to know how to copy Ayre’s product. One company even presented me their new marketing/branding strategy and it had Bodog listed in their business plan as the company it hoped to emulate.
Imitation is the sincerest form of flattery, but it was getting out of hand. Because everyone knew I was close to Calvin, I was constantly asked about the inner workings of the Bodog Nation. I would laugh to myself how funny it was that the same people that were now trying to jack Ayre’s successful business model were the same ones laughing at Ayre two years earlier.
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Last Updated ( Friday, 13 July 2007 )
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Written by Thomas Jensen
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Thursday, 19 April 2007
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 Seed Capital Ltd. denies the rumor that NETeller Plc will be taking over the company and its YouTeller.com website. The London based technology company has no interest in being acquired.
Last month, Point-Spreads.com reported that NETeller's legal counsel demanded in a formal letter that YouTeller.com cease and desist from conducting business under the name YouTeller. The letter stated, "Such use by Seed Capital Ltd. causes confusion, including initial interest confusion leading to persons familiar with the teller-suffixed brand of services to believe Seed Capital Ltd. is somehow affiliated with, related to or endorsed by our client.”
Seed Capital Ltd. decided to delay the launch of their new payment processor YouTeller.com. "It is in everyone's interest that YouTeller will not be confused with NETeller," said Seed Capital spokesman Florian Schweitzer.
If Seed Capital will not be able to make the legal situation clear the company will introduce an all-new online payment system next summer.
"We are not interested in a traditional online payment system. We have developed a service that is tailor-made to the current challenges", Schweitzer emphasizes. "US customers will be able to transfer money to gaming companies again. It's just a matter of time.” |
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Last Updated ( Thursday, 19 April 2007 )
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Written by Thomas Jensen
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Thursday, 19 April 2007
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 The United States government asked a federal judge in New York to grant another continuance in their case against NETeller founders Stephen Lawrence and John Lefebrve. The next trial date appears to be May 16, 2007 frustrating NETeller customers that have been waiting since mid-January 2007 to receive their funds back. The feds seized a reported $55 million that is being held as "evidence" in the case.
This is the fourth time a continuance has been granted in this case.
The United State Department of Justice has alleged the Canadian businessman were laundering money and that they evaded taxes while serving as directors of the online payment transfer company.
Point-Spreads.com will continue to monitor and report on this case on an ongoing basis. |
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Last Updated ( Thursday, 19 April 2007 )
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Written by Thomas Jensen
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Saturday, 14 April 2007
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 The internet gambling industry is starting to mobilize against the Unlawful Internet Gambling Enforcement Act of 2006 after calls from the Chairman of the House Financial Services Committee Barney Frank of Massachusetts.
The Barney Frank Support Initiative was officially announced on Gambling911.com early today.
"The purpose of the initiative is to get everyone remotely involved with online gambling to show their support for Congressman Frank's efforts and to provide individuals with a method to do so that requires little effort on their part," said Gambling911.com Publisher, Christopher Costigan. "Gambling911.com will simply act as a facilitator to help publicize these efforts."
Meanwhile, the folks from CasinoGamblingWeb.com have already started an "outcry" campaign. Costigan stated that he will be meeting with some website owners on Tuesday to discuss their ideas and other industry websites are expected to start promoting the Barney Frank Support Initiative throughout the upcoming week.
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Last Updated ( Sunday, 15 April 2007 )
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