For Immediate Release
Shutdown of Online Poker Sites May Have Unintended Consequences
Contact: Vicki Cohn
New Rochelle, NY, April 20, 2011- On April 15, the Department of Justice (DOJ) indicted executives from the three largest online poker sites that accept U.S. players-PokerStars, Full Tilt Poker, and Absolute Poker-for illegal gambling, fraud, and money laundering. Some players have thousands of dollars on account which they now do not have access to. Joseph M. Kelly, PhD, JD, Co-Editor of Gaming Law Review and Economics, SUNY College Buffalo, has reservations as to whether the DOJ will be successful in the long run.
"The crackdown on the three major poker sites accepting U.S. players and the attempt to seize over $3 billion in financial payments and the three company poker domain names may have negative consequences," says Professor Kelly. "The 50+ page indictment and the civil complaint almost exclusively revolve around bank fraud allegations. The long-range impact of this action may be to drive reputable poker operators out of the U.S. market, who will be replaced by less reputable individuals, which is the opposite of what is intended."
Gaming Law Review and Economics: Regulation, Compliance, and Policy is the only authoritative peer-reviewed Journal covering traditional land-based, Internet, and wireless gaming law in one of the fastest growing economic leisure industries. The Journal provides the latest developments in legislative, regulatory, and judicial decisions affecting gaming at both the state and federal level in the U.S. and in more than 75 countries, as well as coverage of economic issues associated with the exponential growth of casinos and gaming practices. Topics include legal aspects of all forms of gaming including casino games, lotteries, sports books, and horse racing, new regulations in Internet and wireless gaming; legal restrictions on gaming and advertising; gaming license requirements within and across jurisdictions; legal aspects of credit and collection of debts; litigation in application, citing, and employment issues concerning casino operations; gaming tax issues; and intellectual property.