Black Friday: one year on

A year ago this week, the poker world was turned upside down when U.S. Department of Justice unsealed indictments charging online poker’s big three — PokerStars, Full Tilt Poker and Absolute Poker — with illegal gambling, bank fraud and money laundering.

President and CEO of the American Gaming Association Frank J. Fahrenkopf Jnr has a released a statement about Black Friday, a year on after the event.

 “This Sunday marks the one year anniversary of that date, dubbed Black Friday by those in the online poker business,” said Fahrenkopf. “In spite of DoJ action against several other illegal internet gambling companies in the year since, hundreds of illegal, offshore internet sites are still operating.”

He continued: “As long as these sites are operating outside the reach of US law enforcement and with little to no regulation, the millions of Americans who continue to patronise them will be at risk of being defrauded. After a year of Congressional inaction, the fact remains: Until the US changes existing laws to ensure that only licensed, taxed, and highly regulated companies can operate in the US it is certain that illegal activities will go largely unchecked.”

 “It is also essential that current law be modified to establish federal guidelines so there will be consistent regulations for online gambling in all states that choose to authorise it,” said Fahrenkopf. “Such federal guidelines would keep minors from gambling online, prevent fraud and money laundering, address problem gambling and ensure players aren’t being cheated. Without a federal overlay, there will be a patchwork quilt of rules and regulations that will prove confusing for customers and difficult for law enforcement to manage.”