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Understanding the Online Casinos Industry

Online casinos are one of the fastest growing industries in the world. For an industry that hardly existed a decade ago, this branch of the economy has managed to prove itself in some very impressive ways. The existence of over 2000 online casinos on the internet, and a growing number of online casinos floating on the stock markets, it is clear to see that this industry is not a fly-by-night, and is taking its role in the economy very seriously.

The problem with the online casinos industry is its gray legal status in many countries around the world. Many governments consider online casinos to be social corrupting forces that have no place in their society. Some have gone as far as to totally ban online casinos. Other more enlightened governments have realized that online casinos are not simply going to disappear and have begun procedures which are legalizing and regulating the industry. The countries understand that in order to control online casinos, they need to understand what the industry is about.

Those countries which insist on banning online casinos are forcing them underground. When this industry is illegal, it becomes exposed to unsavory elements like organized criminals, underage gambling and unmonitored obsessive gambling. Governments need to learn that in order to control an industry, it needs to be exposed and examined.

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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