Gallo, Youbet.com’s first in-house lawyer, isn’t exaggerating. As he readily acknowledges, his industry is full of untrustworthy, legally questionable, offshore companies. The fact that Youbet.com, which derives most of its lucre from bets processed online for 80 affiliate horse-racing tracks, is both publicly listed and legally compliant often gets overlooked. “I spend a lot of my time lobbying to make sure that other people � legislators and officers at other companies � know this,” says Gallo.
For example: “When Visa decided to recommend to their banks that they cut off all online wagering activity, that hurt us. We had to. . . show them that we’re different from our peers.”
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