US online gaming ban won't hurt us, says Ebet

A US ban on online gaming would not hurt Australian operations, local companies said today, with internet wagering outfit Ebet saying the laws had given "clarity".

A US ban on online gaming would not hurt Australian operations, local companies said today, with internet wagering outfit Ebet saying the laws had given "clarity".

Horseracing and online lotteries are exempt from the laws - which ban US banks and credit card companies from dealing with online gaming sites - opening opportunities for internet wagering companies.

"Our growth in this division of the company has been restricted due to the confusion between online gambling and online wagering activities," said eBet chief executive Tony Toohey.

"We see some positives and we're going to actively pursue opportunities, leveraging off our existing customers in the US," Mr Toohey said.

Ebet operates online wagering for two major US racetracks and markets internet technology overseas.

Australian online wagering outfit Centrebet also said today its business would not be hurt by the laws.

But shares in internet gaming company Betcorp more than halved in value plunging almost a dollar to 90 cents today

"While management will take appropriate measures to mitigate its impact the Act is likely to have a material adverse effect on the operation of the company and its profitability," Betcorp said in a statement to the Australian Stock Exchange this morning.

The US Congress passed the unlawful Internet Gambling Enforcement Act of 2006 on Saturday _ it will become law if it is approved by US President George Bush.