Gambling.com Domain Sold

One of the most popular doc.com domains related to gambling in general, but targeted towards online gambling information, was sold for $2.5M to an undisclosed company.

The domain Gambling.com is owned by Media Corporation that bought it back in 2005 for $20 Million in the hope of capitalizing on the US online gambling market that was constantly growing.

Little did they know that the following year the US will introduce legislation that would ban online gambling companies offering their services to US players and ban all financial activity to and from such companies.

In 2006 the US Government under the leadership of President George W. Bush brought a bill in front of the House of Representative called the Unlawful Internet Gambling Enforcement Act (UIGEA).

The UIGEA prohibits any financial transactions from financial institutions within the US and online gambling companies and has forced most online gambling companies to exit the US market.

With so many companies leaving the US market it is no wonder that the domain Gambling.com which was targeted at US visitors led to a severe reduction in the site's traffic that have caused a drastic drop in advertising revenue.

The domain also suffered a two year penalty from Google for undisclosed reasons which also hindered its earning potential and thus it is no surprise that the domain was sold for a fraction of the price it was bought for.

Media Corporation CEO Justin Drummond stated that they were "very pleased" with the results of the sale that was brokered by Sedo the domain marketplace.