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No Online Casinos Equals No Gambling? Not Likely

One of the most interesting issues in the world of online gambling these days is legislation and regulation. Every other day we hear about a new program aimed at regulation the industry. Be it American politicians trying to bring back internet gambling to the United States or be it European government officials that work on special taxation programs, everyone is dealing with it in one level or another. The strange thing is that a taxation program for gambling already exists in many countries. Although some people don’t even realize it – state lotteries are also a form of gambling. That’s right ladies and gentlemen, there’s a good chance that your country is endorsing gambling as we speak.

The lottery model could work for other forms of gambling, especially if the internet is concerned. Taxing the multi billion dollar casino industry would benefit with the government’s budget and funding for needed programs will become available. Just as the lottery is regulated and supervised, online poker or internet blackjack could go the same way. Special working hours, restriction regarding the age of the players and many other forms of control could be used to insure a safe and responsible gambling offer. Just think about it – how spending your money on a million to one chance to win the lottery be any different of spending even less in an attempt to win a casino jackpot. At least with poker, your skills could influence the result of the wager.

Gambling has a somewhat strange reputation, as politicians use it to promote their affairs in certain communities. When you think about it, we are surrounded by all sorts of attractions that are at their core – no different then gambling. Who is the Stock Exchange market any different them wagering? You lose your life’s savings with a few click of your mouse in front of an e-commerce website, or even using your bank’s website.

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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