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Window of Opportunity

The Irish government is considering seizing an opportunity to benefit from the U.S.’s ban on offshore online casinos – companies displaced by the UIGEA could actually provide Ireland with a unique chance to grab an extra portion of the international internet gambling industry. The Irish government is currently reviewing the country’s outdated land and online casino gambling regulations and a government committee is currently discussing the pros and cons of taking on some of the displaced gambling business.

The main issue comes down to the fact that a whole slew of online casino gambling companies and related businesses were forced out of the U.S. market and are now looking at moving in closer proximity to the European gambling industry. Ireland has a prime opportunity to attract these displaced online casinos with favorable taxation structures and liberal internet gambling regulations. Ireland already boasts a growing internet gambling industry, but the new legislation overhaul could mean even bigger changes for the industry.

Some concerns have government officials skeptical about allowing a large online casino gambling industry into the country. These concerns include having legislation and regulations in place that specifically prevent the internet gambling sites from exploiting underage and problem gamblers. While these concerns are valid, there is little chance that they will be a deal breaker in the decision because of the more sophisticated technology available to the online gambling industry for that specific purpose – internet gambling is becoming an increasingly safe pastime thanks to new software and technology.

There decision to host online casino gambling companies is actually time sensitive and Ireland has a unique opportunity to benefit from the U.S. restrictions. But it is important to note that many of these displaced companies will find out countries if Ireland does not make a decision in the near future.