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Online Casino Summit Tackles Rogue Business

An international summit will be hosted by the UK government regarding online casino sites and online gambling. This summit will be held in order to boost political awareness about underage online casino players and criminal gangs working in the online casinos industry. The Gambling Act, which was introduced into UK law last year, is meant to prevent children from gambling online. It is widely regarded as one of the only countries trying to regulate the industry.

The UK government has expressed its willingness to work with other countries that have legalized online casino sites and Internet gambling to help stop underage gambling and online money laundering. ‘The idea is simple – we’ve taken a big step with our Gambling Act. We want to deal with this on a global scale and get politicians and businesses to think about that. The non-legitimate side is one of the things that concern us,’ said a spokesman for the Ministry of Culture. Australia, New Zealand, and South Africa have all welcomed the idea of the online casino summit.

Reports have suggested, however, that representatives from the US may decline the invitation to attend the event. Online casino sites and online gambling is a large market in the US but according to US law, it is an illegal market. This is why it is still largely unregulated there. In the meantime, illegal online casino gambling will continue in the US as other countries try to move forward into the future and regulate online gambling as best as they can for the best interests of their gambling citizens.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.