Offshore Gambling License
Is it Illegal to Have an Offshore Gambling License?
If everyone in the world could gamble legally, the global community of online gambling would be a much better place for investors of off-shore gambling ventures. However, with the recent developments in online gambling, it becomes obvious that an offshore gambling license isn’t going to be the only thing to protect offshore investments and the investors who have them.
It’s illegal to operate an online casino in some (fewer now than before) areas of the world. In the United States, it is said to be illegal to gamble online but there is still a fine line of whether it is or isn’t even though documents and countless media attention has proven that it is in fact, illegal –to some extent. See, that’s where the US has some troubles with clarification.
The arrest of David Carruthers and the warrants for the arrests of others show that the online gaming community and the offshore betting as we know it have ceased to be run legally with an offshore gambling license alone. There are some other factors weighing in now and those factors seem to be at the forefront of media attention.
Read all of the charges against David Carruthers and you will quickly understand that his offshore gambling license didn’t protect him. Because of his activity as an offshore gambling executive, David Carruthers is now facing racketeering and conspiracy, mail fraud, and tax evasion.
The online gaming industry was once reserved for those individuals who were thought to be a bit shady or at least that was the initial reputation the industry caught. However, after the large forces within the industry became big players with big holdings and investors with thick pocketbooks, the world of gambling and offshore betting seemed to appear above board.
Then, the arrest of David Carruthers and suddenly, no one felt the same and even though Carruthers was under the umbrella of Bet on Sports’ gambling license, he was exposed as being a man on the run with numerous alias names and an illegal business with various charges and indictments handed down. His offshore gambling license couldn’t possibly save him from public opinion or from the clutches of the governments who supposedly wanted him.
During the arrest of David Carruthers and then the release of the names of others wanted on indictments, many realized there was a growing need for improvement in the online gambling industry. The US just started a war with the online and offshore betting industry so they could eventually control some aspects of it while Carruthers and others realized what protection they lacked wouldn’t be found within the fact they simply had their offshore gambling license.
With all of the media attention online gambling catches, one thing remains true and that’s the fact that gambling on the internet is here to stay. It doesn’t matter which government throws a wrench in it and it doesn’t matter what characters are no longer leading the pack of bettors who are wanting to wager on sports or bet in the casinos.
Offshore betting is not going away. However, investors who choose to step into the offshore gambling arena just need to realize they are not exempt from obeying the laws and they have to recognize what having a gaming license for offshore online gambling means and what it doesn’t. For starters, it doesn’t mean the investors who have the offshore online gambling casinos are above the law.
