60 Minutes Online Gambling Story Depicts Need for Regulation

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Although one falsehood was reported in the 60 Minutes story of the online poker cheating scandal, in general, it should lead speculators to desire regulation in the United States. Currently, online poker is not illegal in the United States, although the 60 Minutes story said it was on three separate occasions.

The story has been highly anticipated by the online gaming industry since it was revealed that they would be airing the story after Sunday’s NFL football games. Many were worried that it would lead the public to view online gambling as an evil that should be banned, but the story did not bend that way. Nor did it bend necessarily towards the need for legalization and regulation.

To catch up those who are unfamiliar with the story, let us quickly explain. A former World Series of Poker champion, along with employees for the website Absolute Poker, decided to cheat online poker players by looking at their cards via cracks in Absolute Poker’s security system. More than $20 million was reportedly cheated out of unsuspecting players, both from professionals and amateurs.

The scandal burst out of the seems by a computer scientist who developed statistical data that proved without a doubt that there was significant cheating going on. Here is the problem: the people who cheated, who basically stole $20 million from unsuspecting and innocent players, are free to roam the streets of wherever they live with no fear of being arrested or even charged with a crime. That’s because the scandal took place in Canada’s Mohawk Indian land, which is exempt from Canadian law because technically, it’s not Canadian.

“Canada does not promote Internet gambling, neither does the US, therefore there are no government officials who give a crap one way or the other about this cheating scandal,” said Gordon Price, CGW’s gaming analyst.

“That is why the industry needs to be regulated, so both cheaters, operators, promoters, and even players, can be held accountable for their actions,” Price said.

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