Apparently, because the founders have managed to use the Internet to abuse people like you and me with their atrocious and unacceptable spam on poker, they have earned some $300+ million in profits on some $600 million in revenues. That leads them to place an IPO value of something like $10 billion on their "thing".

All I can say is that, under the law, gambling over the Internet is either legal or illegal for Americans, and given that it may be illegal here, I sincerely hope Eliot Spitzer is patiently waiting to ambush this foreign outfit.

The fact that their kind of business thrives in Britain, and the IPO will be floated via the London Stock Exchange, is to me only a reflection that the Brits have their own issues to deal with.

Although I see online gaming, like porn, gaining a foothold in legitimate markets; that just proves how low some people will stoop to chase the almighty buck. Today I can't even turn on the sports channels used by children without having to watch poker games, and worse, at the dinner hour.

I don't think it's a good trend for society generally. While it may be arguable that certain societies are friendlier to certain aspects of life, like gaming, porn, cocaine or whatever, there is no question that other societies have rejected these.

For the Americans to permit offshore cultures to pervade their society would be a succumbing to the lowest common denominator. Given the hidden nature of electronic communication, very soon every sleaze bag in the world will be pushing their filth further down the line to our children, and to others who are not capable of handling it.

I hope our society does not yield to those forces.

Technologies like IP, such as VoIP and broadband video, need to be regulated. This isn't a free and open world for a reason. That's not because societies want to be oppressed, but because they recognize their need to be protected from people who don't share their values.

I say this seriously; if you want to have some crackhead from Amsterdam managing the emotional development of your child, then just continue to allow the philosophy to flourish that life is one big party, one big game. One $10 billion partygaming.com.

For these reasons, I hope Eliot Spitzer keeps the online gaming business offshore unless it happens to be an offshoot to a fully regulated onshore corporation.

And if it does come onshore, then I hope the lawmakers hit them with incredibly high taxes to cover the damages I believe these people cause (elsewhere), and would bring here.

Two years ago I don't think I would have written this article. I am strongly libertarian. But, I have seen enough to now believe that the public is not prepared to pay the cost of freedom, and is underestimating the damages being incurred.

It's time to wake up.