Online Casino International Summit
The UK has seen a recent upsurge in online casino business and has decided that it is necessary to plan the first international summit regarding the online gambling industry. Both British politicians and gambling authorities have decided to focus on the need to protect children from the online casino and the potential for criminal infiltration into the business. Last year, the UK was the first major nation to introduce regulation for the online casino; believing that regulating the business may keep them on par with US, who still refuse to change their legislation.
Regarding the upcoming summit, the objective is to have international agreement on how to go about preventing children from playing at the online casino and how to put a stop to the possibility of using the online casino as a way to launder money. This is truly a global issue and the business of the online casino is global and accessible to everyone with a computer and any sort of internet connection. The industry is growing at alarming rates with $9.3 billion in revenues for 2004, which is predicted to double by 2008.
Countries such as Australia, South Africa and New Zealand have all approved and welcomed the summit from the UK government. In addition, Malta, Costa Rica and Antigua have also been invited to the summit and have all stated that they will send representatives. The only country that has not yet made any decisions about appearing at the summit is the US, although more than half of the revenues from the online casino industry do come from players situated there within.