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Casino News: Montreal, Legal Issue, Regulation, Online Gambling |
May 23, 2006.
Online Gambling Industry Examines The Future - Legal Issues.
Delegates at a recent online casino conference in Montreal have been told that legislation against online casinos remains a hot issue.
While the industry remains divided on whether or not proposed legislation will come into effect, some insiders dismiss the legislation
issue as one which will only affect certain countries. However, according to one prominent lawyer, nations will be able to enact laws
and sign treaties just like they do currently to enforce laws on their citizens. This would undoubtedly have strong repercussions for
the online casino industry as a whole.
It has been estimated that about 30 million gamblers worldwide regularly try their luck at the online casinos. The
online casino industry as a whole has grown in value from about $3 billion in 2000 to an estimated $12 billion this year. While the
legalization issue continues to create controversy, online casino firms have adopted several different approaches to how to deal with
possible outcomes. An increasing number of online casinofirms are targeting international markets to boost their revenues and diversify
the risks, while others have made
little attempt to operate outside of their traditional base.
Sue Schneider, the chairwoman of the Interactive Gaming Council, believes that industry players need to plan their future with the
possibility of regulation in mind. Schneider points out that the whole online gambling industry is built on the internet and more foresight is needed
to plan for the future. However, one manager of an online casino based in Sweden, says regulation is less likely in Scandinavia than
in the U.S. and sees the legalization issue as not such a problem for his online casino.
Source: USA Casino
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