FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   PABRAI MOHNISH 2. Date of Event Requiring Statement (Month/Day/Year) 01/18/2007 3. Issuer Name and Ticker or Trading Symbol CRYPTOLOGIC INC [CRYP] (Last) (First) (Middle) 114 PACIFICA, SUITE 240 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) IRVINE, CA 92618-3321 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 26,000 (1) D   Common Stock 2,500 (2) I Owned by wife, Harina Kapoor Common Stock 8,500 (3) I By Dalal Street, LLC Common Stock 1 (4) I Owned by IRA of wife, Harina Kapoor Common Stock 297,000 (3) I By Pabrai Investment Fund 2, LP Common Stock 331,653 (3) I By Pabrai Investment Fund 3, Ltd. Common Stock 892,571 (3) I By Pabrai Investment Fund 4, LP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PABRAI MOHNISH 114 PACIFICA SUITE 240 IRVINE, CA 92618-3321	Â	  X	Â	Â

Signatures

/s/ Mohnish Pabrai		01/25/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Mohnish Pabrai, in his capacity as husband and advisor, has the shared power to vote or to direct the vote and the shared power to dispose or to direct the disposition of the shares held by the shares held as JTWROS. Mohnish Pabrai and his wife, Harina Kapoor, hold these shares of Common Stock as joint tenants with rights of survivorship, and share the power to vote or to direct the vote and the power to dispose or to direct the disposition of such shares.
(2)	Harina Kapoor, in her capacity as account holder, and Mohnish Pabrai, in his capacity as husband and advisor, have the shared power to vote or to direct the vote and the shared power to dispose or to direct the disposition of the shares held by Harina Kapoor. Mohnish Pabrai disclaims beneficial ownership of any such Common Stock held by Harina Kapoor except to the extent of his pecuniary interest therein, if any.
(3)	Dalal Street, LLC and Mohnish Pabrai, in his capacity as chief executive officer of Dalal Street, LLC, have the shared power to vote or to direct the vote and the shared power to dispose or to direct the disposition of the shares set forth herein. Mohnish Pabrai disclaims beneficial ownership of any such Common Stock except to the extent of his pecuniary interest therein, if any.
(4)	Harina Kapoor, in her capacity as account holder, and Mohnish Pabrai, in his capacity as husband and advisor, have the shared power to vote or to direct the vote and the shared power to dispose or to direct the disposition of the shares held by the IRA FBO Harina Kapoor. Mohnish Pabrai disclaims beneficial ownership of any such Common Stock held by the IRA FBO Harina Kapoor except to the extent of his pecuniary interest therein, if any.

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