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It's Just Not True

There is no doubt in the minds of anyone in the online casinos industry that the U.S. is in for some serious compensatory claims from trading partners affected by the U.S.’s new offshore gambling policies. But some are alleging that the media is simply taking the issue a bit too far with reports that the European Union alone is asking for $100 billion in compensation. Though the U.S. offshore online casino ban certainly had a serious affect on other countries with stakes in the global e-gaming industry, A U.S. Trade Representative official dismisses the reports as “exaggerated.”

The U.S. Representative spoke with the Reuters news agency only on the contingency of anonymity and noted “that some of the numbers being put forward are based on faulty and exaggerated assumptions." Because the online casinos related negotiations are still an issue, the Representative couldn’t comment on the correct anticipated compensations, further than to say that speculations as high as $100 billion for the EU alone are higher than is realistic.

Others in the online casino industry though feel that the speculations are much more on target than the Representative lets on. These speculations are based off of reports that lawyers at the online casinos gambling companies are pushing for the EU to seek that much in compensation. Justification for high compensation claims center on the fact that many companies that traded and did business in the EU either went out of business or have lost much of their trading value.

But in the end the decision will come down to the World Trade Organisation’s assessment of valid compensation claims. And all in the online casinos industry can be sure that the WTO will thoroughly consider the issues before ruling on forms and amounts of required compensation for the several countries involved in the dispute.