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Does the Online Casino Industry Fear Regulation?

After years of fighting for legal recognition, it seems that the odds are finally in favor of the online casino industry. Although politicians Rick Boucher and Bob Goodlatte are pushing ahead with their anti online casino bill, it seems that there is little chance of the law being passed. Parallel to these attempts is a general tilt in favor of online casino gambling – the American public is finally seeing the light and this sentiment is backed up by the American Gaming Association and land-based casino companies who are pushing for the legalization and regulation of the internet gambling industry.

Some commentators, however, seem to think that now that the online casino industry is standing on the threshold of regulation, it is starting to have cold feet about the move. If regulation occurs, the online casino world will be faced with strict rules and licensing requirements. How many sites in the online casino industry could truly meet the taxation demands of the US government? How many can truly prove themselves to be reputable and untarnished? And hence the sudden interest from the offline casino world.

Land based casinos are finally waking up to the fact that regulation is only a matter of time and they are now backing the winning horse – positive that when the US government starts to dish out licenses to run online casino operations, the authorities will prefer reputable companies, based on American soil, which have been paying taxes for years, over unknown, off-shore online casino sites. Should the online casino industry worry about regulation?

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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