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Online Casino Regulation will Protect Players

The online casino community dealt with a high level of criticism (from within the community itself and by industry observers as well) against an online gambling promotion which addresses the events of 9/11. In the promotional email, a certain online casino site offered players the ability to enjoy a special bonus call Twin Tower Bonus as a pastime activity for the Memorial Day. Obviously, such a bonus was not accepted positively by the gambling public or by any other community as a matter of fact. Such conduct could have been avoided if proper regulation would be used.

The American government, by trying to protect the American people, has exposed them to such irresponsible commercial behavior. Currently, the online casino community is banned as far as the law’s concerned. However, if Barney Frank’s bill would have been accepted – proper regulation could be used and the online casino site in question would have no choice but to comply with the codes and guidelines laid by whatever body that would put to be responsible over the industry. Regulation is the only way the government could ensure that responsible gambling is practiced. Right now, there is no limit to the possibilities that stand at the hand of online casino groups. The unethical promotion was sent to players outside of the United States, of course, but the concept is clear.

The administration would do good to adopt a regulation scheme and abandon the ban over the online casino industry. The restrictions against online gambling operations don’t help preventing such actions, but regulation and taxation programs would. Give the online casino community a reason to follow the rules and guidelines and you can rest assure that the industry would be more than happy to comply. It’s reasonable to believe that the 9/11 promotion was not intended at hurting anyone’s feelings as a direct aim, but it did manage to upset people. Regulation could have prevented that from happening.

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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