Bill Gates said the internet would make some people richer than himself. That has happened yet, but there are a few close finishers. Many people have made large fortunes thanks to the internet, but some have done even better.
The online gaming industry has produced multiple Billionaires over the last 7 years. That’s billionaire with a B. Take Ruth parasol, the co founder of Party poker (Party Gaming). Ruth standed to make an additional $683 million the day her company went public. Then, there is Calvin Ayre. He founded the Bodog sports book empire. Bodog Satta takes hundreds of millions of dollars in beting action each year.
There appears to be a shroud of mystery around the legality of online gaming. At times, the United States government has intervened and tried to police the world as one nation. The interesting thing to note is that there are many variables to setting up and doing business as an online gaming company. US citizen or not, the US government has only gone after sports book and sports book processing companies.
In the past 7 years, US citizens contributed most of the online gaming revenue globally. In the past two years, things have really started to change. Regardless of recent US law changes, US players really haven’t slowed down with online gaming. Online gaming is growing at a cancerous rate. This is because of internet broadband expansion on a global basis. People from around the world are now able to participate with online gaming. They are finally able to do so because of high speed internet access availability..
If every US citizen stopped placing wagers online today, the online global gaming industry would still grow at an alarming rate. What’s even more interesting, is that NOT one US citizen has ever been prosecuted by the US government for taking wagers online from non-us citizens outside of this country.
Thanks to client language software (software that runs in different languages), it is now possible to market gaming globally and successfully. You can be a US citizen, and legally own and operate an online casino, poker room, and or sports book, providing that NONE of your customers are in the United States, or are US citizens.
The recent US law banning US poker may get repealed this month. You can learn more about that by researching the UIGEA repeal ACT to be held on September, 26th, 2007. Not to mention, it looks like the government will never go after poker rooms due to the public unrest involved against the law. There are at least 5 large successful poker rooms that still take US players. They promote their poker sites all over television with US poker celebrities as their spokesmen. They are Poker Stars, Ultimate Bet, Full Tilt Poker, Absolute Poker, and Doyles Room. One of the founders of Doyles Room is Doyle Brunson. Doyle lives in Nevada and doesn’t hide under his bed. The only type of gaming site that the US government has ever gone after is a sports book. The only type of processing company the US government has ever gone after is a processing company that would process the sports books deposits/withdrawals.
If you ever wanted to get involved with the online gaming industry and you happen to be a US citizen, you could play the “game” extremely safe by NOT doing one thing. Don’t take US players wagers. Even though they probably will never go after poker sites, take the safe route anyways.
Half of the online gaming market is now outside of the US. We are dealing with a $20 billion dollar a year industry. You can legally get a piece of this as a US citizen without the scrutiny of the US government. If you think it’s too late to become wealthy in the industry, it’s not. The industry s growing every day and will do so through 2012.