Entrepreneurship

In November 2002, the United States Court of Appeals for the Fifth Circuit ruled that the Federal Wire Act prohibited the electronic transmission of information for sports betting across telecommunications lines.

Thus, gambling laws in the States were tightened, which not only spelt bad news for the many millions of casino-loving people that were unlucky enough to live nowhere near Las Vegas, but credit card companies lost a lot of revenue too – while online casinos had to shut up shop…or start looking elsewhere to generate income, given that almost 50% of their profits were from American gamblers.

Of course, where there are losers, there are normally winners too – the translation industry did exceptionally well in this case, as online casinos started looking to non-English speaking countries to make up the shortfall the US ruling had created.

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