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A law to regulate online casinos, not ban them

Much has been written about the recent legislation passed by the United States Congress, which calls for a wide ban on online casinos. While the new law is negative in nature – categorically banning online casinos – and the arguments against the ban are, too, negative in essence, there is a positive recommendation out there that is worth repeating. The positive contribution is coming from an independent, non-profit, British standards authority company called eCOGRA.

The message is: legislate to regulate, not eliminate. The organization may serve as an example for what the U.S. and other governments should do, instead of chasing online casinos underground. For example, the organization has founded the “Play It Safe” seal of approval. Online casinos who qualify can boast this seal on their sites, thus signaling to their members that they are inspected and regulated.

The ban, eCOGRA argues, is simply wrong. With a vacancy of legit online casinos, players would quickly find themselves gambling at unregulated and questionable gambling sites. These will surely survive any ban or legislation, as they care little about abiding by rules as it is. The organization has the players’ protection first in mind, when it turns to online casinos to join dozens of sites that are already being monitored by them.

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.