Sunday, October 22, 2006

Several operators of Internet gambling sites in Costa Rica known as "sportsbooks" say their businesses will not be significantly affected by a new U.S. law prohibiting bank and credit card payments to the sites. U.S. President Bush signed legislation Friday aimed at prohibiting the credit card and electronic fund transactions U.S. players often use to settle online wagers. Some foreign online gambling outfits immediately said they would stop doing business with American customers.
There are at least 200 electronic gambling companies in Costa Rica, employing about 10,000 people, according to the Costa Rican electronic gambling business association. Bodog.com, founded by Canadian millionaire Calvin Ayre, said in a statement Monday that, "The way we see it, we have a few months to study the situation and put a plan in place to deal with all anticipated outcomes of the new legislation.""We are, however, confident that we've structured our business in such a way that we'll have no problems adapting to any changes in the online gaming environment," the statement said. "We see the future as very positive for Bodog.com." VegasPoker247, part of the "Absolute Network," also seemed undaunted by the new law. "VegasPoker247 is pleased to announce that it's business as usual," said a statement posted on the company's website Friday by manager Nick Powers. "All players' funds are completely secure and we are exploring every available depositing option with our existing payment processors," Powers said. "We believe they will remain unaffected by this law and will continue to operate without interference."