BETonSPORTS CEO, David Carruthers, believes Internet gambling will be regulated in the United States in the next number of years, and that current legislation introduced by eager anti-gambling mavericks in the U.S. Congress will be defeated. BETonSPORTS is one of the largest Internet sports betting sites in the world, and derives a large percentage of its revenue from customers in the United States.
In a telephone interview with Reuters yesterday, Carruthers said, "I would be very, very, very surprised if any of these bills get any longer lifeline than the month of July" and that "he expected to see online betting ultimately regulated in the United States in about 3 years."
While pointing out that previous attempts to ban online gambling have failed, Carruthers admitted that if the proposed bills (H.R. 4111 and H.R. 4777) do pass, "they will inhibit growth, and it will be a shock to the system."
Carruthers mentioned that methods to stop Americans from wagering on Internet sites have already been implemented in the United States, such as prohibiting credit card companies and banks from processing payments to gambling firms, and that these efforts have had little effect on the industry.
"Some of the tactics in the bill have already been circumvented," he said. "Our consumers now in the main use e-wallet solutions such as NETeller," an online banking firm that allows peer-to-peer transfers.