How the U.S. Is Getting Beat in Online Gambling
Wildly popular, yet still illegal in the U.S., Internet gaming has earned vast sums for its creators. Meanwhile, a wave of IPOs in Britain has left American banks out of the action
By PETER GUMBEL / LONDON
Timje.com | Nov. 20, 2005
Gambling lore is filled with tales of the lucky novice who walks into a casino and breaks the bank. This year it really happened. The fortunate neophyte is Vikrant Bhargava, who is from Rajasthan, India, and admits that he had never set foot in a casino until recently and still isn't all that fond of gambling. But in a single day in June, he and two colleagues walked away with the poker purse of all time: more than $1 billion in cash.
...more - (Dead link: http://www.time.com/time/globalbusiness/article/0,9171,1132818,00.html?promoid=rss_top)
Wildly popular, yet still illegal in the U.S., Internet gaming has earned vast sums for its creators. Meanwhile, a wave of IPOs in Britain has left American banks out of the action
By PETER GUMBEL / LONDON
Timje.com | Nov. 20, 2005
Gambling lore is filled with tales of the lucky novice who walks into a casino and breaks the bank. This year it really happened. The fortunate neophyte is Vikrant Bhargava, who is from Rajasthan, India, and admits that he had never set foot in a casino until recently and still isn't all that fond of gambling. But in a single day in June, he and two colleagues walked away with the poker purse of all time: more than $1 billion in cash.
...more - (Dead link: http://www.time.com/time/globalbusiness/article/0,9171,1132818,00.html?promoid=rss_top)