Possible come-back for online US gambling
After years of legal blockades on internet gaming, the issue is back in congress with prospects for a royal flush in the industry
A small shift occurred in the US government in 2011 when the Justice Department proposed an end to the complete ban on online gaming, with the exception of sports betting. Now there is further movement as several bills for the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of online gambling have been brought to the House of Representatives.
It has not taken very long for some states to pursue action; Nevada as the obvious example and both New Jersey and Delaware following suit and passing legislation to get the go ahead.
Expectedly, there is a fair amount of opposition to the movement with risks of fraud, Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and under-age gambling, all still points of contention. Even Sheldon Adelson, casino owner and billionaire has taken issue, by funding an anti-gambling website stopinternetgambling.com. He is exceptionally concerned about the dangers of online gambling and was reported saying: "I'm a father, grandfather... I do not want my children to have the opportunity to become addicted to gaming. And poker, in my opinion, would become one of the most addictive games."
But in reality, the wave is going to be difficult to stop and as Michael Waxman, spokesman for the Safe and Secure Internet Gambling Initiative, has indicated: “The prospects for congressional action are now better than at any time…we're down to the decision over whether Internet gambling activity is going to be regulated on a state-by-state basis or by the federal government."
After years of legal blockades on internet gaming, the issue is back in congress with prospects for a royal flush in the industry
A small shift occurred in the US government in 2011 when the Justice Department proposed an end to the complete ban on online gaming, with the exception of sports betting. Now there is further movement as several bills for the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of online gambling have been brought to the House of Representatives.
It has not taken very long for some states to pursue action; Nevada as the obvious example and both New Jersey and Delaware following suit and passing legislation to get the go ahead.
Expectedly, there is a fair amount of opposition to the movement with risks of fraud, Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and under-age gambling, all still points of contention. Even Sheldon Adelson, casino owner and billionaire has taken issue, by funding an anti-gambling website stopinternetgambling.com. He is exceptionally concerned about the dangers of online gambling and was reported saying: "I'm a father, grandfather... I do not want my children to have the opportunity to become addicted to gaming. And poker, in my opinion, would become one of the most addictive games."
But in reality, the wave is going to be difficult to stop and as Michael Waxman, spokesman for the Safe and Secure Internet Gambling Initiative, has indicated: “The prospects for congressional action are now better than at any time…we're down to the decision over whether Internet gambling activity is going to be regulated on a state-by-state basis or by the federal government."