Internet’s ‘big 3′ to pay £31.5m for gambling advertisements
The world’s three biggest internet companies have reached a multi-million dollar agreement with the US government over charges that they accepted advertisements promoting gambling, despite it being against the law.
According to the US attorney for eastern Missouri, Catherine Hanaway, Microsoft, Google and Yahoo will pay the government $31.5 million and will cease carrying advertising for sports betting and other types of gaming.
The ruling comes on the back of an 18-month investigation conducted by the attorney’s office in collaboration with the IRS and the FBI, into the internet companies’ behaviour over the past few years.
Microsoft will forfeit $4.5 million and also provide $7.5 million to a missing children’s charity, as well as a further $9 million for public service advertisements to be rolled out over the next three years.
Likewise, Yahoo’s $7.5 million settlement will see the internet giant provide $4.5 million for public service ads.
“These sums add to the over 40 million dollars in forfeitures and back taxes this office has already recovered in recent years from operators of these remote-control illegal gambling enterprises,” said US Attorney Catherine Hanaway.