Online Gambling Found Home in Manhattan

February 14, 2008

It would seem that if you are looking to build a new online gambling franchise that Manhattan would be the place to go. Lots of money to be found, people are generally a let live sort of people, right? Well, it seems that many online gambling companies have had that same idea.

Federal prosecutors have seized more than $717 million in online gambling operation assets as well as corporate fraudsters and drug traffickers over the course of last year. And it all comes from Manhattan.

There could also be another $450 million coming in from the borough as well as there are plea bargain agreements under negotiation at this time. A large chunk of that money comes from NETeller. The online gambling payment company forfeited $136 million after their top officials pled guilty to charges of promoting offshore online gambling.

New York must have a hold on the online gambling market. Another one of its boroughs, Brooklyn, registered third on the list with $49.2 million in online gambling seizures. The amount that Manhattan brought in is more than half of all online seizures for the entire country.

Therefore, it only stands to reason that either more people in NYC are getting involved in online gambling, or they are just better at finding it. Either way, it would behoove those that want to participate in online gambling and the processing of it, would want to look into a change of address before they become part of the statistics.



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