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Internet Gaming Economic Renaissance for Ireland

The Irish government appointed the Casino Committee who subsequently discovered a multitude of advantages for granting internet gaming operations a home base,to the extent that they even suggest that favourable tax rates and exemptions be put in place to attract internet gaming operations.

The committee’s aim was to conduct a study to improve the efficacy of Irish laws with regard to gambing, casinos and internet gaming and their conclusions delivered some amazing results.

The Irish Casino Committee declared that since the United States passed the Unlawful Internet Gambling and Enforcement Act, an economic opportunity opened for Ireland and they recommended that the government take immediate advantage and exploit this for the benefit of Ireland.

They further advised that the Irish goverment approach internet gaming operators and invite them to make Ireland their home base. This will enliven the economy in the same way as when internet giants like Google and Yahoo made Ireland the base for their European operations. Objective studies and expert testimonies have consistently found that the imposition of a ban on internet gaming similar to that in the United States, would be problematic and unenforceable with numerous unforeseen and undesired consequence.

A limited licensing program will be instated and provisions made to prevent access to minors as well as some regulations to prevent criminal abuse and to protect customers from dishonest internet gaming operators. The committee went further and found that laws regarding casino and land gambling should be updated and modernised. Alongside these update laws, will come licensing, taxation and adherence to the laws. The Irish government wants realistic gambling laws that will profit the country and its citizenry instead of imposing an outright ban which is unenforceable and will drain resources. Perhaps the time has come that other countries follow this laudable example.

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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