Archive for the ‘Gambling News’ Category

Impact of Black Friday in 2011 and Beyond

2011 will definitely be a year to remember for the online gambling world, but unfortunately more for negative reasons than positive ones. The US Department of Justice unleashed indictments and domain seizures on Friday, April 15 (aka Black Friday) for online sites including Full Tilt and PokerStars, with the reverberations still being felt in the online world.

PokerStars continued on largely unfazed (and is still the world’s largest online poker site by a wide margin) but Full Tilt would ultimately implode and shutter its online doors. The passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 paved the way for Black Friday, with the UIGEA making it illegal for US banks to knowingly do business with online gambling sites. Some sites exited the US market and obeyed it but others stayed, suffering no real consequences until the Department of Justice made its move on Black Friday.