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Online gaming at a crossroads

With the US Congress recently approving an Internet Gambling bill that would effectively make it illegal to make online gaming card transactions, it looks like the future of online gaming, at least in the United States, is becoming bleak. This new law will most likely be the main topic of discussion among the attendees to the eGaming Review annual awards dinner that will be held next week in London. During this event, which will be held at the Natural History Museum, around 650 people involved in the industry will be expected to attend.It is quite understandable that the general mood of the online gambling industry is decidedly somber as various software providers, payment processors and online gambling operators all started releasing negative statements on the Stock Exchange.

The future of the online gambling industry is very unclear at this point but one thing is for sure, that future is going to be very bleak for companies that have vested interests in the US online gaming market. Such companies as Empire Online and World Gaming are actually preparing for tougher times. World Gaming, in fact, just had a double whammy of bad news as its expected takeover from Sportingbet did not push through.

The emerging and possible markets for the industry is also not as wide as others originally thought. Even though the gaming companies can find a haven in either the UK or in Scandinavia, the arrests made recently in France and the announcement of fairly similar actions that may come from Germany means that the European Market may not be as welcoming of this industry as first thought.

With PartyGaming and 888 Holdings announcing that they will be closing their US business soon, industry observers are predicting that a domino effect will likely happen in the industry.