The media reports of the demise of the offshore wagering industry are enormously overstated. Why are reporters treating the decisions of a few large public companies like Party Gaming, the operator of Party Poker, as though the industry is over? Because the public companies are the ones who have worked the media over the years. Their PR guys are the ones in the media’s rolodexes, and they are the ones they go to for quotes. In fact, almost all of offshore gaming’s major private operators are in the business for the long run and will simply change any banking they do to work within the context of the current law. Where are their quotes?

The folks in the media don’t know the private operators, who tend to keep a far lower profile. It is safe to say that the private operators are baffled by the decision of the public companies to not simply say “we’ll continue do obey the laws of Great Britain (and/or Costa Rica, Australia, Ireland, Germany, Antigua, Curacao, etc. wherever they do business) where we are licensed and regulated. We are not under the jurisdiction of the United States Congress.” Because that’s what the vast majority of privately held companies are doing.

So why are the public companies based in England caving to legislation from a body that doesn’t have jurisdiction over them? Because for the directors and execs of most of them, their involvement with the company is just a stock play. At this point their overwhelming concern isn’t showing backbone on behalf of their customers and shareholders, their only thought is to not get tangled up in anything controversial. It is time for them to use their contacts to move on to the next technology, financial services, or consumer products company and get on with their lives. The private owners who have built their companies by the sweat of their brows are not going anywhere. And that’s most of the industry.

You’re also reading media reports like this… “If you live in the U.S., you won’t be able to play online poker anymore…” In fact, all the legislation does is slap new regulations on the banking industry in the US. In a Business Week report American Gaming Association President and CEO Frank Fahrenkopf said, "This bill did not make anything legal or illegal. What it did was affect the mechanism by which Internet gambling takes place…and there is some question as to whether or not that will be effective."

By accounts of many knowledgeable industry observers, the new regulations will be easily circumvented by the online casinos, books, and poker rooms in conjunction with banks outside of the United States. Banks in the US are not going to cut off relationships with banks overseas just because some of them do business with online gaming concerns. Foreign banking, e-wallets, and others in the business of international financial transactions will have an enormous opportunity here, and rest assured that those industries will seize the opportunity.

We’ll have a lot more on this next week, but by all accounts the law is basically unenforceable. Reuters reports “John J. Farmer, former attorney general of the State of New Jersey, said relatively few of those who voted in favour of the bill had read it properly and that it was badly formulated.”

I apologize for not having more time to research this for you, but it is a football week and while I report on this industry, the first thing I need to be doing is analyzing games in order to select winners for my customers and me. I’ll have much more on this next week, including a special email report to those on our distribution list. If you’re not on the list be sure to opt-in below.

Now on to the fun stuff, this week’s football.

Certainly you’re all looking for the NFL cretin alumni college matchup of the week, aren’t you? Tennessee visits Georgia Saturday. Albert Haynesworth’s alma mater against Odell Thurman’s old school. Passing stats are interesting animals sometimes. Nebraska QB Zac Taylor completed only 15 of 33 passes against Kansas, a subpar 45% completion percentage. Disappointing day for Taylor, right? Not really. Taylor had TD passes of 75, 78, 75 and a total of 395 passing yards. 11.96 yards per pass attempt is absolutely outstanding. In college ball, particularly, you are often trading completion percentage for yardage. And vice versa. A high percentage passer might be more valuable as a chain-mover in a 3rd and 6 situation. But a guy who can strike with a long pass from anywhere on the field certainly is a valuable asset as well. So what do you prefer in your quarterbacks, consistency or explosiveness?

Over ongoing action in a competitive game, ESPN interviewed Titans QB Steve McNair during their Monday night telecast. Not exactly a scintillating interview subject, “The Worldwide Leader” couldn’t have been attracted to McNair by his piddling 75.4 passing rating, could it? Oh, Baltimore plays at Denver on Monday night this week? No matter how mundane will viewers be subjected to this on an ongoing basis? And while we’re on the subject of Monday Night Football, please allow some amateur TV critic work here. The formidable and enjoyable Tony Kornheiser needs to stop saying “what a great line” after he repeats a great line. Of course it was a good line, Tony, that’s why you shared the clever quotation with us. Now let it stand on it’s own.

Longtime callers to our hotline take note. Dave Fobare has taken the ball and is running with it. Call 1-770-618-8700 for Dave’s unique technical handicapping insights, free selections, and other information that can help you win. Dave works hard on this 24-hour voice mail broadcast, so take advantage of it by calling 1-770-618-8700.

The Cardinals gained only 187 yards of total offense in Sunday’s 32-10 loss to Atlanta, yet their defense stiffened up in critical periods, holding the Falcons to just a single offensive TD. New starting QB Matt Leinart (you may have heard of him) will struggle some, but is unlikely to hand gifts to the opposition like turnover machine Kurt Warner’s INT return for a TD on Sunday. The Chiefs generated points via special teams and held the previously explosive 49ers to 165 yards on Sunday. With Huard on the road and Leinart starting for the first time look for both coaches to be a bit conservative and hope to run the ball. Look for the under to come in in Glendale.

Auburn coach Tommy Tuberville is not amused by the flack he’s taking for not blowing out a decent South Carolina team. Arkansas’ freshman-led Springdale High School offense may pay the price, as the Tigers are allowing only 2.8 yards per rush and a mere 5.5 yards per pass attempt. Those stats were generated against some good competition, including a terrific LSU team as well as solid South Carolina and Washington State outfits. With people starting to rationalize keeping a potentially undefeated Auburn team out of the BCS championship game look for Auburn to make a statement in this one.

Thanks for reading Sports & Gaming News this week. Good luck and be careful. For a free copy of our 2006 Maximum Profit Football Annual visit www.FootballAnnual.com You’ll also get a free email subscription to this Sports & Gaming News column when you arrange to get your free football annual by visiting www.FootballAnnual.com.