Observers say it’s a landmark moment for online gambling.

Growing hostility of the US authorities to online gaming led in February last year to internet payment processing giant Neteller withdrawing from the States after a nationwide crackdown saw the FBI freeze funds held in customer account.

Funds were subsequently released under a deal reached with the US Attorney’s office.

The guilty plea of the co-founder of PartyGaming in New York’s federal court last week is a move that doesn’t directly affect e-gaming businesses that have set up here, many of whom are targeting the European and Asian rather than the US markets.

For them, it’s business as usual although they are monitoring developments closely.

Paul Telford, head of legal services at Poker Stars, insisted: ‘As far as we are concerned it’s biggest as usual.

‘It doesn’t affect the company. This doesn’t change the law, no precedents have been set.

‘But it will give us food for thought as to the bigger impact. The situation is very fluid so there is little point in commenting further.’

Garth Kimber, head of e-gaming development at the Department of Trade and Industry, said: ‘We are monitoring the situation closely to look at any potential impact.’

Meanwhile, delegates to a seminar held in Douglas heard that e-gaming is well-placed to ride out global recession.

Thirty people attended the event organised by Global Betting and Gaming Consultants Ltd on December 3 at the Claremont Hotel in Douglas, including representatives from the Department of Trade and Industry.

Chief executive Warwick Bartlett told delegates: ‘GBGC is constantly being asked how the recession was likely to affect e-gaming. A question difficult to answer as there is no comparable data.

‘Gambling benefits from not being a big ticket item, whereas people will stop spending on cars and moving house they will continue to have a pint and have a bet.

‘The global roll out of broadband is also assisting the growth of internet gambling. So it is far more resilient than the traditional land-based betting shop or casino.’

He emphasised that while the Isle of Man had done well from financial services, it was not beneficial to be too reliant on one business sector and it was in everyone’s interest to promote the Island as an e-gaming centre.

GBGC was instrumental in setting up Malta as an e-gaming centre.