Inside look on CryptoLogic Inc.

CryptoLogic Inc. is a Toronto-based company that provides casino software and support services to some of the biggest gambling sites on the Internet today. The firm already has more than $80-million in sales for this year, and the company recently grew another 30%. The last 5 years, gambling online has become a $12 billion a year market. And CryptoLogic sales are up about 85% in that exact same period.

Cryptologic has thousands of investors in a new industry that is maturing fast but still with many problems. The biggest issue is the image problem, online casinos are still considered illegal in many areas in the United States and all over the world. The company itself admits that maybe one day they will face civil or criminal actions unless things change in the near future.

Most top Banks in the US won't even process transactions for online casinos. It is getting harder and harder for someone to use a credit card to gamble online. And a lot of US lawmakers in the last 10 years have been trying to eliminate the industry.

As a result almost all customers of the Canadian Company are located on two small islands, Alderney and the Netherlands Antilles. Most of these companies do not do this to avoid taxes. They run offices in the US and Canada, with 100's of employees. They run to the Caribbean Sea because our governments cannot figure how to regulate online casino gambling and profit from it.