Notice for online regulation campaign

It looks like the mainstream media is picking up a story reported on the Internet last week about BetOnSports’ David Carruthers’s campaign to bring online gaming regulation before the public. From the LVRJ:

But unless Congress abandons efforts to prohibit Internet gambling. Carruthers said, the United States stands to lose billions of dollars in potential tax revenue to the United Kingdom and other countries that allow online wagering but regulate it.

BetonSports.com is headquartered in San Jose, Costa Rica. Carruthers came to the company after working 24 years for Ladbrokes Racing in the United Kingdom.

“We want to be the standard-bearer of Internet gambling regulation in the United States because a majority of our customers come from the U.S.,” Carruthers said.

Internet gambling is projected to reach $7 billion in revenue this year after producing $5.7 billion last year on more than 1,800 offshore wagering Web sites. By 2010, the Internet gambling market is expected to produce $18.4 billion.

As part of his company’s campaign for regulation, Carruthers is conducting summit meetings in New York, Washington, Chicago and Los Angeles.

The summits include discussions among Internet gambling officials, attorneys and educators about how to develop federal regulations for online wagering.

Findings will be published in a white paper that will be released shortly after the Nov. 2 election.

Exec pushing Internet gaming

This is certainly a developing story. I will be attending the Los Angeles event, so expect a full report about the meeting here, maybe in real time if I can get net access. Isn’t technology great?