More Information on CNBC’s Upcoming Gambling Program

Written by:
Jagajeet Chiba
Published on:

Mark your calendars readers.  Next Wednesday December 16, 2009 CNBC will present its original program "CNBC Investigates:  The Big Business of Illegal Gambling".  Until now we knew very little about the program other than what we were seeing in promos. Beyond the Las Vegas strip there's a thriving underworld of illegal gambling. It's a multi-billion dollar business and millions of Americans are in on the action...

CNBC has now released more information. "From sports betting to online casinos to high-stakes poker, a high percentage of the betting is placed illegally, according to the soon-to-air report."

Much of the report will focus on illegal bookies operating within the United States it appears.

"Interviews with "Paul," an illegal sports bookmaker who knows each bet he takes can land him in jail; professional gambler "Vegas Runner" who takes his job as a gambler as serious as any Wall Street trader takes his job; and the dangerous case of Nick Sarillo, a restaurant owner who freelances as a bookie, crosses the Mob and pays a heavy price; shed light on this lucrative, but risky activity."

World Sports Exchange founder Jay Cohen is interviewed as part of the piece.   He was indicted in March of 1998 and served nearly two years in prison for violation of a 1962 "Wire Act".

CNBC does speak with representatives from both side of the spectrum when it comes to legalizing online gambling.  While they mention Congressman Bob Goodlatte, a Republican from Virginia and author of The Unlawful Internet Gambling Enforcement Act" (UIGEA) as well as Congressman Jim McDermott, a Democrat from Washington State and the sponsor of a bill that would regulate and tax online card games, there is no mention of either Congressman Barney Frank, who has sponsored legislation to repeal the UIGEA, or Senator Jon Kyl, one of the fiercest critics of legalized online gambling and the man most responsible for pushing through the prohibition measure.

Never-the-less, this promises to be an interesting program. 

To its credit, CNBC's original shows are quite well done and the network regularly reports on updates within the Internet gambling sector.

Jagajeet Chiba, 

Gambling News

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