The Future of Online Gambling
Online gambling has sometimes had a bad image as being a shady money making business; mafia like. But those believing this often forget that online gambling sites for the large part,provide entertainment to players; people do play for the fun of it or for the chance to win a life changing jackpot. However, it is also true that for online gambling sites to operate, they should abide by laws with definite rules and regulations.
In the USA, online gambling is a fight of good versus evil. You have the totally hardcore fans in favor of legalizing online gambling, while on the other hand, the ones brandishing the bible and condemning gambling as a sin. But at the end of the day, it will be the Congress deciding on its fate.It is right for online gambling to be regulated and taxed as this will remove the shady elements from the online sphere completely and provide protection to online gamblers.
Big names at land based casinos are already thinking about their future on the web. Caesars Entertainment Corp. C.E.O Gary Loveman has always been in favor of internet poker legalization and he is ready should Congress pass a bill on that matter and set up a regulatory process.Caesars has already set up online gambling operations in the United Kingdom and major land based game suppliers like WMS and IGT have either got their own operations running or are supplying games to online gambling operators via licencing deals.
A few days ago, a Senate committee received complaints that legalizing internet gambling could threaten the billions of dollars of casino revenues that have powered economic development on Indian lands over the past two decades. So now the US government has also this fact to take into consideration.
Professor I. Nelson Rose is one of the world’s leading authorities on gambling law believes that online gambling is not going to be a reality in the near future. He is aware that everything is being done so that online gambling is run in a proper environment where there is no under-age gambling and the US Federal government will have their share of tax revenue from online gambling sites. But he still does not see all those efforts being passed as legislation as the Congress has shown that it is unable to agree on any specific law.
And while the US tramples on the subject, Europe has been the quicker to react. The RGA (The Remote Gambling Association) has welcomed some of the elements of the European Parliament’s report on online gambling, which was voted on and agreed. This report shows a definite support for the European licensed online gambling sector. Most important, it forces the European Commission to ensure compliance with EU law and to pursue infringement proceedings against Member States that unjustifiably restrict access to their gambling markets. But again, this is not the end of the story and more is to come.
The online gambling industry will keep on growing. The online casino world was before considered to be a niche for the happy few. But nowadays, everyone wants to be in this business, just as Group Bernard Tapie who atruck a deal with the US Department of Justice to acquire Full Tilt Poker for $80 million. This goes to prove that more big companies are willing to go out of their way to invest in such a business. But at the same time, there is a clear need of a sound regulatory system for the online gambling industry.
There are different schools of thoughts when it comes to online gambling but this drama is due to last for long. In the event it is legalized in the countries and states which are fighting for or against it, there will be an upsurge of online gambling sites. Then, the only difference between those sites would be how well they treat their customers and much tax they will pay. Online Gambling is here to stay, Gamblers enjoy online gambling and the fact of the matter is that this is one day going to be regulated. How long it will take is purely down to those who have interests in online gambling. In the interim it seems that the gambling public are the ones that are being made to suffer until these special interests have been catered for. It certainly reminds us at Gambling Games of the recent We are the 99% born by Occupy Wall Street protesters. The large majority are falling prey to the interests of the elite few in our opinion.
Written by Helen for Gambling GamesWhat.
Tags: Online Gambling