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30 June 2011
| News> Archive> 2006> October> Online gambling industry looking at Europe for shelter |
Online gambling industry looking at Europe for shelter
12 Oct 2006
With the online gambling industry hit hard by the recent ban on accepting wagers from the US, many online gambling companies are looking for new and safer markets. Docents of online gambling websites have vowed to close their operations in the US or are as yet undecided, and they are hungry: Turning your back on multi-billion revenue is not something done lightly, and the big hole that this will leave in the casinos pockets are looking for fillings.
So the spotlight is on Europe now, where various governments, amongst them Italy, England and the Netherlands, are currently looking into smart ways of regulating the online gambling industry. It's about protecting underage and young players, dealing with gambling addictions, and sorting out the legal jungle amongst the different countries. These are real challenges facing the online gambling business, but instead of rashly going for an emotional judgment, as the USA has done, Europe currently seems more inclined to thoroughly investigating the possibilities. With consistent dedication there will be solutions available, and many an online gambling would be just to happy to limit some of its operations in order to gain a legal license.
For Europe as for the online gambling world, this could become a win-win situation. There are billions of tax dollars to be made for the EU, and billions of revenue for the online gambling industry. And with the online gambling market set to double over the next four years, many believe that a solution can and will be found.
