Free Markets and Gambling Monopolies Don’t Mix
In a global capitalist economy, like the one we are experiencing, there’s no place for state monopolies. Several European countries are still operating monopolies that control the gambling markets of those states. Citizens are able to gamble, but they can do so using services offered by one firm alone. Currently, the matter is being discussed in legal forums and at the European Commission which believes that such monopolies are damaging the vision of a free-zone Europe. However, the notion is not strictly legal – it’s economic in nature and online gambling firms around the world work harder on the matter.
If some of the European countries decide that one firm alone will offer computer products and that the one firm will be controlled by the government – it will be hard to find someone who doesn’t believe the notion to be strange. However, that’s pretty much what happens in the gambling market. One firm alone can offer gambling products and there is no competition. From one hand, regulation one company is easy and people enjoy safe gambling. But that’s not enough. Opening a market for competition can be down gradually with entering firms asked to follow strict code. Regulating an opening market is easier than regulating an already open one and the European states can open their markets for safe competition.
While they’ll surely loose the profits generated by the monopoly, it will win it back with taxes. Private firms will have to pay high taxes for the privilege of operating online casino sites of land-based casinos and the government will enjoy a large cash flow. People who believe in free markets should make their voice heard in the matter of gambling as well. If a country decides that gambling is legal, it must be legal for everyone to offer it and not only to one firm that’s working with the administration.