Online Poker Scuppered By USA And EU Deal - 12-19-07
Author: Marc Weinberg
December 19 - Online poker companies based in Europe were probably hoping that the EU would put some pressure on the USA on their behalf, levying sanctions against the USA following WTO rulings that decried America's protectionist policies regarding online gambling.
Those online poker companies might have forgotten that the last time anyone from Europe stood up for their own rights was in a trench in 1918.
Once again the EU proved toothless in the face of the real shark in international waters. The USA fobbed off the Euro-weenies with some trade concessions in the glitzy sectors of postal and courier not forgetting the juicy new avenues that were opened up in storage and warehouse.
Now I'm no expert on the courier industry and for all I know there's billions to be made in storing stuff but combine them and they don't touch sides with the size of the online gambling industry, or the losses incurred this year alone by European-based online poker providers like PartyGaming and 888.
A couple of months ago it seemed plausible that the USA would realize that their trade policies were untenable, that they breached the treaties they signed at the WTO, and that the example of Antigua would lead to multi-billion dollar sanctions that would force America's weak hand.
Today it is the publicly traded online gambling companies who are once again forced to muck, and we're going to have to wait for the banking shills on the Hill to try and force through their bill at the expense of the UIGEA, which remains standing between USA online poker players and many of the best online card rooms in the world.
