The week before the news of NETeller quitting U.S. was splendid in more ways than one. It was the largest weekend for online poker tournaments, as big guns like PokerStars, Bodog and UltimateBet broke their previous records to post newer ones.
As soon as the NETeller news broke, it acted as a very active sedative to dampen the spirits of the various poker players who play online. PokerStars was the only online poker room to have avoided an overlay and that to with a very least attendance.
Some people also credit the low attendance to the NFL, which took place this weekend. The noose that is being tied around the online poker rooms by the U.S. Department of Justice is going to get tighter as the DOJ is contemplating on taking stricter action by going after the Wall Street.
After the passing of the UIGEA, several online poker rooms have taken a calculated stance and have been looking at the situation closely. The NETeller pullout was a shock to the gaming industry and others are close on heels.
A New York Times article by Andrew Sorkin and Stephanie Saul said that the DOJ would be taking action against investment firms who have helped quite a few online poker rooms in underwriting of the Initial Public Offerings (IPOs). Apart from the “four firms”, which are going to face the onslaught, Subpoenas were issued to Credit Suisse, HSBC, Deutsche bank and others.
They are believed to be involved with some online poker rooms like PartyPoker and 888, which have their listings at the London Stock Exchange. The U.S. Government is definitely taking a very tough stance and as it cannot go after online poker rooms, which are located in other countries, it would definitely go after their marketing areas, investors and other interests of these online poker rooms.
The Unlawful Internet Gambling Enforcement Act in October has had its effect on the gaming industry, but the immediate redemption that the industry saw was very encouraging. It is up to the spirit of the poker player that could ultimately make an impact on the future of the online gaming industry.
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