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A Future Online Casinos Industry

As several countries plan to join forces and seek compensation arbitration from the Word Trade Organisation against the U.S., the U.S. might be better off to just reconsider the foreign online casinos gambling ban. Although several prominent U.S. politicians are seeking new legislation that would neutralize the highly controversial Unlawful Internet Gambling Enforcement Act (UIGEA) that process could take a while, and the rest of the world isn’t willing to wait. Many U.S. and foreign politicians are pushing the U.S. Congress to quickly reconsider the country’s position and legislation concerning online casinos gambling considering the global concern over the U.S. ban.

The U.S. is currently on the edge of a recession according to most economy analysts around the world – and as the U.S. government prepares an economic stimulus package and other efforts to stave off the recession, the government is risking facing heavy trade sanctions should the U.S. actually change the country’s GATS treaty commitments. The U.S. has already come to tentative terms with the EU on appropriate trade sanctions, but now Antigua and Costa Rica are also claiming that they also deserve compensation because of the U.S.’s online casinos withdrawal.

The key to avoiding trade sanctions with the numerous nations that filed online casinos compensation claims through the WTO last year could lie in the GATS treaty. "If the U.S. withdraws following another adverse arbitral decision, the country would face potential retaliation from all WTO Members affected by the arbitration, a pool of countries including the EU, Canada, and Japan," commented the former Director of Policy Planning for U.S. Trade Representative Robert Zoellick, Nao Matsukata.

Matsukata expanded on that with the assertion that "the best solution remains for the US Congress to pass legislation that would create a legal and regulated framework for online gaming in the United States and for the United States to remain in the GATs schedule to provide all providers legal protection under the WTO." Those involved in the global online casinos industry all agree that licensing and regulation is the U.S. only real long-term choice in this issue. Though some politicians vilify the internet casinos industry, the fact remains that "Inviting sanctions at a time when both the U.S. Administration and Congress are both striving to stimulate an economy on the edge of recession seems foolhardy at best, especially when draft domestic legislation already exists that would create a renewed flow of both business and tax revenues throughout the nation's gaming sectors," elaborated Matsukata.