So what has the impact really been of the arrest of David Carruthers, the CEO of online betting site BetOnSports? It certainly hasn't caused many people to stop gambling. However, it has convinced other online gambling execs to stay the hell out of the US. The organizer of a conference about the online gambling market which was scheduled for next week has now cancelled the conference, after many of the attendees bailed out, rather than face the possibility of arrest in the US. It's not clear what good this does. Online gambling is still very much available, and plenty of people in the US will still choose to use these sites. All that the government has guaranteed is that these execs won't come to the US, won't throw conferences here and will simply take their business elsewhere. Is that really a victory? While the government could choose to regulate the online gambling industry in the same manner they do for the offline gambling industry, instead they've just made sure that they get no part of the lucrative business that will now flow entirely to foreign countries. It won't stop people from gambling, though it will make them less protected and will prevent the US from collecting any taxes on it. It's hard to see how that represents any kind of victory.
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