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Belgium to Regulate Online Casinos

Belgium seems to be following in the footsteps of the United Kingdom and is close to regulating online casino gambling in this tiny European country. This decision comes after a long debate in Belgium, and after it was discovered that tens of thousands of people already gamble at online casinos. And so the wisdom of the United Kingdom seems to be seeping across the channel and across Europe. After the UK announced its intention to legalize and regulate online casino gambling within its borders by the year 2007, Belgium has announced its intention to do the same.

After three years of fierce internal debate and a thorough investigation of online casinos in the country by several organizations, a draft has finally been drafted that might soon regulate online casinos and gambling in Belgium. During the investigation, it was found that over 100,000 Belgians gamble at online casino sites. It was also found that gamblers at online casinos spend 1 billion Euros annually. As is the case with the United Kingdom, the Belgian government found that it would be counterproductive to ban online casino gambling altogether.

Instead, if the Minister of Justice approves the draft, nine online casino companies will be granted licenses to run legal gambling activities. This, at least, would allow the Belgian government to keep a close eye on the industry. A commission has been appointed to determine all aspects of online casino gambling, including payout rates, legal betting age, bets, etc. It is thought that most popular games usually found at online casino sites, such as poker and slots, will be legalized.

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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