Tweet
Get Your Money Backed by GOLD
All in Today's Offshore Insider!
A Caribbean-based dot.com firm is offering a way for Britain's betting companies to tap into the potentially lucrative American gambling industry, the firm's chief executive says. E-gold Ltd, promoter of an electronic currency backed by the precious metal, is in talks with major British gaming firms which have been hesitant to tap into the returns on offer in the U.S. because of fears of non-payment when credit cards are used on online betting sites. The UK's top gaming firms include Ladbrokes, William Hill and Sporting Index. Under e-gold, which is incorporated in St.Kitts and Nevis and has been in operation since 1996, British gaming firms would receive instant settlement as the bet was placed, removing any default risk if a credit card was used. Settlement charges through the e-gold system were also a fraction of those carried by credit cards. E-gold was on course to do more than five million transactions worth in excess of $1 billion ( 640 million pounds) this year through its website www.e-gold.com, Jackson said. Under the e-gold system account holders pay each other with units of e-gold, a digital currency which is backed by an equivalent weight in gold held in secure third-party vaults.
All in Today's Offshore Insider!
A Caribbean-based dot.com firm is offering a way for Britain's betting companies to tap into the potentially lucrative American gambling industry, the firm's chief executive says. E-gold Ltd, promoter of an electronic currency backed by the precious metal, is in talks with major British gaming firms which have been hesitant to tap into the returns on offer in the U.S. because of fears of non-payment when credit cards are used on online betting sites. The UK's top gaming firms include Ladbrokes, William Hill and Sporting Index. Under e-gold, which is incorporated in St.Kitts and Nevis and has been in operation since 1996, British gaming firms would receive instant settlement as the bet was placed, removing any default risk if a credit card was used. Settlement charges through the e-gold system were also a fraction of those carried by credit cards. E-gold was on course to do more than five million transactions worth in excess of $1 billion ( 640 million pounds) this year through its website www.e-gold.com, Jackson said. Under the e-gold system account holders pay each other with units of e-gold, a digital currency which is backed by an equivalent weight in gold held in secure third-party vaults.
All in Today's Offshore Insider!
Comment