Online gambling firm continues with Dublin operations

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Online gambling firm continues with Dublin operations

By Eamon Quinn
July 30, 2006

The Irish chief executive of an online wagering firm, which takes sports and financial wagers from the US, said it has taken legal advice and believes the US authorities will not hinder its continuing operations in Dublin.

John Delaney, chief executive of Trade Exchange Network, which includes sister companies Trade Sports and Intrade in a business park in west Dublin, said it will continue to accept bets from US citizens.

It believes that because it operates as an exchange and is not a bookmaker it will not fall foul of 45-year-old US legislation, which has been used to ban some internet gambling operations.

In recent weeks, the US Department of Justice arrested David Carruthers the former chief executive of British online wagering company BetonSports and indicted company founder Gary Kaplan, two siblings and US direct marketing companies on 22 counts of ‘‘racketeering, conspiracy and fraud’’. Carruthers is being detained in a Texan jail and a US court will decide later this week whether to extend a ban on BetonSports operating in the US.

‘‘The fact of the matter is that they have gone after bookmakers.

“There is no Act in the US which prevents the punter in the US from placing a bet with the offshore book. The Act prohibits the offshore bookmaker providing the service and we are not a bookmaker,” said Delaney of Trade Network. ‘‘We are the Irish business with the greatest US user base. But because we are not bookmakers we do not feel that this issue applies to us.”

The company had taken advice over several years on its legality by taking legal opinion in Ireland, the US and Europe.

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