The four-year losing streak suffered by Britain’s online gambling industry could be about to end. The multibillion-pound industry virtually collapsed after its biggest market – the US – was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors – it was a hugely expensive one.As soon as the London Stock Exchange opened the following Monday morning, shares in PartyGaming – then a FTSE 100 member – slumped by 58%, while rivals 888 Holdings and Sportingbet saw their shares slide by 26% and 64% respectively, wiping an estimated £4bn off the sector’s value.
http://www.guardian.co.uk/business/2010/jul/30/online-gambling-united-states
Bet comes good as US moves to end ban on online gambling
The four-year losing streak suffered by Britain’s online gambling industry could be about to end. The multibillion-pound industry virtually collapsed after its biggest market – the US – was closed down overnight when Congress introduced a surprise clause to legislation in September 2006, in effect making internet betting illegal. Not only was that a blow for investors – it was a hugely expensive one.