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The U.S. Has a Choice

At this point the global community is aware that the U.S. chose not to comply with a recent ruling from the World Trade Organisation (WTO) regarding online casino legislation. The U.S.’s UIGEA effectively stopped all transactions from online casinos and internet gambling sites to U.S. based financial institutions. This Act caused outrae form many in the global internet gambling industry, but now Congress has the chance to appease the WTO, comply with their ruling, and still maintain control over the internet gambling industry in the U.S.

Just last week many experts in the online casino gambling industry were on hand to testify in front of Congress about the possibility of regulation of gambling rather than the current full-on ban. Among the groups testifying for Congress, Craig Pouncey had perhaps the most compelling case for why the U.S. should regulate online casinos. Pouncey is a partner is the UK law firm that handled the WTO – U.S. case. He stated, “Appropriate regulation of Internet gambling would put the US on a road to resolving the WTO problem. The US would avoid having to offer possibly substantial compensation in the form of opening new markets to foreign competition, and, as a result, affecting possibly numerous other economic players in the US who have absolutely nothing to do with gambling, or the WTO gambling dispute.”

Other groups had pertinent information for Congress as well. The Remote Gambling Association (RGA) is a trade association for the internet gambling industry. Their stance is that the U.S. should regulate the online casinos because the current system is just ripe for allowing crime and fraudulent activities. RGA’s Chief Executive comments, “Within the United States vast amounts of credit card transactions take place on a daily basis. The system is well established and well policed in order to counteract fraudulent and criminal transactions. The only circumstance in which crime can flourish is if the activity is unregulated.”

Others where also there to testify to Congress, GamCare and others. All had one single motivation: convince Congress to repeal the UIGEA in favor of online casino industry regulation.