Google, Yahoo! And Microsoft Reach Settlement Over Illegal Internet Gambling
The Department of Justice says that Google, Yahoo! and Microsoft have reached a $31.5 million dollar settlement for promoting illegal gambling, according to Reuters.
We just can't wait for those ads. Do teenagers internet gamble a lot? Or does public service advertising just automatically target them because they're the easiest people to patronize?
The companies were accused of receiving money from online gambling businesses to advertise illegal betting from 1997 through 2007.As part of the settlement, the companies will pay cash to the U.S. government and provide millions of dollars worth of public service advertisements informing young adults and teenagers that Internet gambling is illegal.
Microsoft, Google and Yahoo settle gambling claims [Reuters]
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Comments:
Glad the government has its priorities in order!
This is what happens when you allow the evangelical, morally better than you, right wing element choose our politicians.
Drugs, prostitution and gambling have been with us probably since the very beginning of human history. Throwing money at trying to stop these practices is a never-win, waste of time and valuable resources.
It would be far better to accept reality, allow people to do what they want (as long as it hurts no one else), license these activities and collect taxes on the sales of products and services. Hell, we might even be able to eliminate all other taxes by doing so.
We would be better off if they allowed domestic internet gambling. This would be a new source of income for the US and would protect people from fraud that happens with the foreign run websites...
I don't really even think this is moralism, its about protecting domestic gambling cartels from foreign competition.
I didn't even know it was illegal. Whoops.
@DallasDMD: & by domestic gambling cartels, i assume you mean state gaming commissions, in which case you get a FTW!
@mac-phisto: Good point. I was just thinking of the big gambling families in Las Vegas and New Jersey.
Its damned hypocritical.
@Rusted:
you could say the same thing about anything else.
When I put time in at work, I am just transferring money from the company to me at a set rate.
@RUSTED
@ffmariners: Gambling does not produce new income. It transfers wealth, nothing more.
You could say the same for the stock market also.
But who cares, the government will tax the increase in transferred money that you now have :)
@iamme99: well, in some ways the stock market produces new income - share offerings create capital which can be invested. shares can also be leveraged, which in a way is pulling money out of thin air.
Internet gambling's illegal? I didn't even know...
Well of course, it's not quite SAFE to begin with, so it would be a pretty hazardous move to try.
@MAC-PHISTO AT 12/20/07 08:26 PM
@iamme99: well, in some ways the stock market produces new income - share offerings create capital which can be invested. shares can also be leveraged, which in a way is pulling money out of thin air.
NO, stock offerings just take existing money from someone who has it and transfers it to the company doing the offering. Same as gambling.
Leveraging (using margin) is just borrowing against collateral and/or your net worth. If you win, you again get someone else's money. If you lose, you give up more of your money or collateral.
In either case, no new wealth is created. It's all just a transfer.
The sad part of this story is that the government will think their best chance of making money off internet gambling will be lawsuits instead of, you know, regulating it. Talk about leaving a mint on the table.