Things are beginning to look up for the online gambling businesses. More and more are leaning to license and regulate the online gambling industry in the US!
In an op-ed published in today’s Roll Call, Rep. Jared Polis (D-CO) argues regulating Internet gambling in order to protect consumers and generate up to $42 billion in new revenue is a “sensible approach.”
Based on his experience of having started and managed several Internet-based companies, Rep. Polis says Congress should “…scrap the ineffective attempt to ban Internet gambling in the U.S. and, instead, replace it with a regulated environment where adult consumers can elect to place a wager online with assurances that they are protected from fraud and abuse.”
“Regardless of what one thinks of the proper public policy approach to gaming in general, it’s time to acknowledge that this incidence of ill-conceived prohibition has failed, is failing and will continue to fail because it completely ignores the reality of the Internet,” states Rep. Polis. “A new policy approach is needed to address this issue and protect Americans and the freedom of the Internet.”
Rep. Polis further encourages support for the Internet Gambling Regulation, Consumer Protection and Enforcement Act (H.R. 2267), introduced by Rep. Barney Frank, which would “replace the current, ineffective ban on Internet gambling with a strict regulatory environment where operators must be licensed and required to implement safeguards to protect against compulsive and underage gambling, money laundering, fraud and identify theft.”
Ahead of the expected launch of the Dutch regulated gaming market in 2021, the Minister for Legal Protection, Sander Dekker, has published a set of secondary regulations with the industry stakeholders being able to submit comments on the proposed rules until the 18th of September.
The rules mostly deal with player protection, transparency around bonus offers, and impose a duty on the operators to monitor for and deal with problem gambling.
The American Gaming Association has had what some would consider a questionable history when it comes to supporting online gambling in the United States. Because their primary backers are those involved with land-based gambling, it's hard to know exactly where their motives lie when they make statements about the online sector, and this includes daily fantasy sports. They've made some statements about DFS, and it seems like they're wanting to use it as leverage to expand sports betting.
Italy is looking to change things up a bit in the next year by adding some things to their regulations for online gambling. For the first time, existing licenses for online gambling are needing to be renewed, and new licenses are likely to be issued. On top of that, there are provisions for Internet cafe situations that could change things up quite a bit.
The Licensing Situation