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  • Obama Gives A Huge Gift To The Online Gambling Industry

    Written by: Dana Salvo

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    ELRAA Justice Department opinion made public this week provides a huge opening for the online gambling industry.

    Online gambling in all forms has been prohibited by the Wire Act of 1961, which forbids gambling via telecommunications across state lines.

    The new opinion, however, says that the act applies only to sports betting.

    Online lotteries in New York and Virginia are on the table now. This could open the door for online gambling — which was slammed by the DoJ only months.

    Online gambling provides an easy revenue source for beleaguered states. Similarly the DoJ has pursued new revenue by authorizing new powers for investigating tax dodgers from California to Switzerland.

    Read more: http://www.businessinsider.com/obama-gives-a-huge-gift-to-the-online-gambling-industry-2011-12#ixzz1hkuPhWJr

    This is great for companies like Elray Gaming (ELRA) Read below:

    Based on our research and the company’s recent increase in revenue projections, The Stock Wizards believes ELRA could be a dominating force in the Online Casino space and we encourage our subscribers to keep ELRA on their radar!

    Research ELRA

    www.elraygaming.com

    ELRA gaming operations are based in Sydney, Australia. The company is managed by its online gaming founder, Brian Goodman, and gaming operations are carried out by a multi-lingual team of gaming professionals.

    ELRA has offices in the USA, London, South Africa and Mauritius and has support facilities in Israel, Curacao and the Philippines.

    ELRA is a developer of turnkey gaming products, and is currently developing a host of social networking and mobile applications for the investor community.

    ELRA is in the process of launching a Joint Venture product with one of the world’s largest global financial service providers and will provide a financial trading platform offering real money financial service trading facilities (non USA) as well as a Fantasy Trading / Social Networking products in Stock, Options and currency markets.

    ELRA will offer both web and mobile-based FOREX trading platforms to take advantage of the increased interest in currency trading from around the world. The Company will look to develop these platforms to comply with both local and international regulations.

    ELRA will launch a suite of products aimed at capitalizing on the rapidly growing Social Network and Fantasy Markets. All products will be accessible via the web as well as smart phones, and will allow a network of active investor community. These products will provide Elray Gaming an additional growth component in its online gaming portfolio, and develop an active network of customers interested in the financial markets.

    ELRA currently manages a comprehensive range of online gambling products including branded Online Casino’s and a Bingo room. Internet casinos and Bingo rooms are online versions of the traditional land-based casinos. Online casinos allow gamblers to play and wager on traditional casino games as well as play Bingo via the Internet.

    December 27, 2011 @ 5:06 pm Trackback URL Posted in Industry News and tagged with , , , , .