Internet gaming on 60 Minutes

If you didn’t see the 60 Minutes piece last night about online gambling, you missed one of the best spokespeople for the industry around.  Nigel Payne, who runs UK-based SportingBet.com, practically begged the US to regulate them so he could pay taxes and help legitimize the industry.  It certainly what you expect to hear from a business owner, but it makes sense.

SportingBet.com would benefit from the legitimacy of not being a grey market business in America.  They would also presumably not be forced to compete with unscrupulous operators who work out of countries that don’t regulate at all.

Payne’s point is only half right.  Indeed he will be legitimized by US regulation, but that won’t stop unscrupulous gambling sites from other countries from competing with him.