Three Internet Companies to settle gambling claims

The three largest Internet Companies (Microsoft, Yahoo and Google) are all looking to start the year off right, with a clear conscious and no worries. At least when it comes to any woes these large companies were having in regards to Internet gambling. The three companies have agreed to pay a combined $31 million in order to settle claims that they promote illegal online gambling.

US Attorney Catherine Hanaway said on Wednesday “The investigation conducted by Hanaway's office, along with the IRS and the FBI, dates to 2000”, she said. Negotiations have been going on for 12 to 18 months, she said. "This is a very profitable business that had a lot of money to spend on marketing," Hanaway said of the online gambling firms advertising on the Web.

The investigation conducted by Hanaway's office, along with the IRS and the FBI, dates to 2000, she said. Negotiations have been going on for 12 to 18 months, she said. "This is a very profitable business that had a lot of money to spend on marketing," Hanaway said of the online gambling firms advertising on the Web.

All three Companies said they stopped taking the ads years ago. "I do think it will have a major impact, Hanaway said. Obviously these are three of the largest online organizations in the world."

Microsoft is paying the most, with a total of $21 million. $4.5 million of that will go to the government, with $7.5 million going to the International Center for Missing and Exploited Children. Microsoft is giving up some of that money towards public service ads as well, to the tune of $9 million.

Google will be giving $3 million to settle the case, in which all three companies will neither admit nor contest the charges brought against them.

Yahoo, which has already faced some flack from Congress in regards to its privacy policies and cooperation with other governments, will be paying $7.5 million for this court settlement. Yahoo has already forfeited $3 million directly to the Treasury, and will also provide $4.5 million worth of online advertising over three years for a public service campaign, according to a report from MarketWatch.

As part of the settlements, none of the three companies admitted any wrongdoing or contested their culpability.

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