Internet gambling boom.(THE REGION)(American Gaming Association)(Brief article)

0 Comments | Caribbean Update, July, 2006

US residents spent more than US$4 billion last year on Internet gambling, despite a de facto prohibition on such wagering in the US, and is growing by 20% per year, says the American Gaming Association, reports AFP (May 23, 2006). Nearly all the money went to offshore sites. Some Internet 2,500 sites offer betting on sports or casino games, generating between US$7 and US$10 billion in 2004.

The most popular site is in Antigua (536), followed by Costa Rica (474), Kahnawake Mohawk nation of Canada (401), Curacao (343) and Gibraltar (111). In the US, authorities have blocked credit cards, banks and the online service PayPal from offshore betting. But Americans still manage to place bets through payment services (e-wallets) such as NETeller, FirePay, or Citadel.