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UK Gambling Act Proposals Going Public

The UK Gambling Act which has been applauded by lawmakers both locally and internationally, is currently undergoing a three month consultation period. The essence of the consultation of the Gambling Act was published this week. The Gambling Act is part of the reformation of the gaming and online casino industry in Britain. The British government has expressed plans to regulate the gaming and online casinos industry from within. The moves are to ensure that the gaming and online casino industry becomes a law-abiding and controlled sector of the economy, protecting the weak, such as minors, and keeping the organized crime units at bay.

The proposals for the new Gambling Act, which will come into effect in September 2007, will highlight the exact plans that the government will implement in the online casino gambling and gaming arena. The government wishes to explain to the online casino industry exactly how it will move from the current system of licenses, permits and registrations, to the new ‘improved’ gambling regulatory system.

The proposals include a wide range of changes in the online casino gambling sector. The proposals of the Gambling Act are to ensure that the operators have a crystal clear understanding and comprehension of what is required of them as the time of the Act’s implementation draws nearer. The consultations are intended to ensure that both the online casino gaming industry and the lawmakers have enough time to prepare themselves sufficiently before the implementation on 1 September 2007.

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.

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