Uncle Sam Plays a Double Whammy on Online Gaming

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It is clear that the US means business. With their new legislation against online gaming a mere two months old and one arrest under their belt, that of David Carruthers of Betonsports in July, they have now detained another big name in the online gaming industry.

Anyone wagering on the new football season needs to sit up and take notice because, while the new season began for the National Football League, US officials arrested 64-year-old Peter Dicks, Chairman of the online egaming organization Sportingbet PLC. It is clear that the US means business. With their non compliance with a WTO ruling, continued efforts against online gaming and one arrest already under their belt, that of David Carruthers of Betonsports PLC in July, they have now detained another big name in the online gaming industry.

Dicks was detained at the John F. Kennedy Airport in New York on September 9 and was on trial the same day. With a warrant out for his arrest as well as for the arrest of other employees of Sportingbet, one might wonder why he traveled through the US at all. However the big question is what are the implications of Dicks' arrest?

Pending legislation that prohibits any US financial institution from allowing the transfer of funds to online gaming operations still looms. This potentially means that, not only can online gaming organizations not accept payments from US players unless they are paying through offshore bank accounts, they cannot use US financial institutions themselves.

Fortunately there are options. Ron Z. Mendelson, recognized expert on offshore business and director of offshoreXplorer.com, explains, “The importance of establishing a sound and secure offshore presence for online gaming organizations has never been more crucial and it has also never been easier. Establishing a secure online presence gives operators of a company anonymity and privacy as well as securing the protection of assets. If they are not properly protected, then the best they can hope for is to watch their profits quietly dry up. At worst, well we only need to look at the Carruthers’ and Dicks’ arrests to imagine what that might be.”

The most important thing for operators of online gaming institutions to know is that it is highly important to consult an offshore professional when considering moving offshore. If the offshore presence of an organization is not structured properly, then it can mean big trouble as we have seen from the arrest of Dicks and Carruthers. Not only does it mean possible indictment, but the potential to lose huge profits through an interruption in incoming funds and plummeting stock values.

Ron Z. Mendelson personally invites every online gaming operator world wide to contact offshoreXplorer.com, the foremost experts in the offshore field, to obtain advice and help in setting up their offshore presence. “We can help set up offshore bank accounts, trusts, and corporations to ensure the security of online gaming operators,” says Mendelson. “Then maybe operators won’t need to avoid the US like the plague when they are traveling.”

For more information visit http://offshoreXplorer.com

About OffshoreXplorer.com:

Established in 1999, privately held OffshoreXplorer.com serves large and small organizations throughout North America, Europe and Asia with incorporation services, establishing offshore trusts, as well as creating offshore companies aimed at protecting assets to legally reducing annual taxes.

Ron Z. Mendelson, director of OffshoreXplorer.com, is an expert in offshore asset protection strategies, and specializes in wealth protection, foreign asset protection, international business corporations, worldwide investing, global banking, offshore online gaming, and international e-commerce.

Contact:

Ron Z. Mendelson

Director

offshoreXplorer.com

1 888 249 9430 EXT 1001

http://offshorexplorer.com

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