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RESPECTED BUSINESS PUBLICATION SUPPORTS REGULATED ONLINE GAMBLING
The respected UK business and economics publication 'The Economist' criticised attempts in other countries to ban online gambling this week in a leader article pointing out the advantages of properly licensed and regulated internet gambling activity.
Noting that history has shown that prohibition of a popular pastime - the alcohol bans in the United States for example - rarely works, the article goes on to examine the difficulties faced in enforcing the Unlawful Internet Gambling Enforcement Act in the United States, and the workarounds that have developed to overcome government attempts to disrupt financial flows to so-called 'illegal' internet gambling websites.
"...after a brief dip, Americans are now betting online about as much as they did four years ago. The Justice Department still maintains that online gambling is illegal, yet large numbers of Americans carry on regardless. The reason is simple: anyone who wants to gamble and has an internet connection can do so," The Economist points out, illustrating its point with some statistical facts.
The piece discusses the motivation of those seeking to kill off this modern evolution of gambling, opining that commercial protectionism and a fear of competition is a real element. It also poses the question of whether punters are better protected by banning the pastime and driving it underground, as is happening in the United States, or properly regulating and taxing it as is done by more enlightened governments such as the United Kingdom and a growing number of European states.
Online poker is particularly singled out as an example of a gambling genre that, thanks to modern media coverage, has grown from 'a niche game with a rather louche reputation' to a booming one, rightfully respected for the mental agility and improvisation it requires.”
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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