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Risky Online Gambling Sites Close Just Like Risky Banks
Play where there is a a great risk and chances are you might get burnt. This has long been the case with an online gambling industry which witnesses a few dozen or so "fly by nights' open annually, only to close up shop and leave customers high and dry.
But risk is evident in most business sectors, not just online gambling. Banks are no exception.
Federal regulators announced the closure of ANB Financial National Association banks in the state of Arkansas after discovering "unsafe and unsound" business practices there. Anyone holding under $100,000 in their banking accounts will receive refunds. Those with monies above that amount will lose the remainder.
It was the third closure this year of an FDIC-insured bank. Douglass National Bank, a Missouri bank with $58.5 million in assets, was shut in January; another Missouri institution with assets of $18.7 million, Hume Bank, was shut down in March.
Many naysayers have claimed that gambling online is "dangerous", like throwing money out the window. In reality, the activity is among the safest when one considers that only a handful of the major betting firms have actually shut down owing customers over the last decade, the biggest of which was BetonSports following indictments by the US Government in July 2006.
"There is risk in most industries," points out Gambling911.com Operations Manager, Payton O'Brien, citing the airline industry as one. "Over the last month, several airlines have gone out of business across the globe and many travelers lost money."
Passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) may very well have helped reduce some of the rogue operations from coming into existence.
"That legislation has made it difficult for many of these new shops to process credit cards and to market," claims O'Brien. "Their exposure is severely limited."
Source-
gambling911.com
THAT is why we here at the Streak do NOT at times endorse certain casinos, it is for your protection so please be sure to listen to our warnings and do not deposit into certain casinos!
Play where there is a a great risk and chances are you might get burnt. This has long been the case with an online gambling industry which witnesses a few dozen or so "fly by nights' open annually, only to close up shop and leave customers high and dry.
But risk is evident in most business sectors, not just online gambling. Banks are no exception.
Federal regulators announced the closure of ANB Financial National Association banks in the state of Arkansas after discovering "unsafe and unsound" business practices there. Anyone holding under $100,000 in their banking accounts will receive refunds. Those with monies above that amount will lose the remainder.
It was the third closure this year of an FDIC-insured bank. Douglass National Bank, a Missouri bank with $58.5 million in assets, was shut in January; another Missouri institution with assets of $18.7 million, Hume Bank, was shut down in March.
Many naysayers have claimed that gambling online is "dangerous", like throwing money out the window. In reality, the activity is among the safest when one considers that only a handful of the major betting firms have actually shut down owing customers over the last decade, the biggest of which was BetonSports following indictments by the US Government in July 2006.
"There is risk in most industries," points out Gambling911.com Operations Manager, Payton O'Brien, citing the airline industry as one. "Over the last month, several airlines have gone out of business across the globe and many travelers lost money."
Passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) may very well have helped reduce some of the rogue operations from coming into existence.
"That legislation has made it difficult for many of these new shops to process credit cards and to market," claims O'Brien. "Their exposure is severely limited."
Source-
gambling911.com
THAT is why we here at the Streak do NOT at times endorse certain casinos, it is for your protection so please be sure to listen to our warnings and do not deposit into certain casinos!
