Regulated Online Gambling Safer for Consumers

Published Monday, April 07, 2014 -
Regulated Online Gambling Safer for Consumers

The business of online gambling is becoming regulated worldwide and the industry is taking huge leaps in safety for the consumer of gambling services over the web. The fact that Full Tilt Poker refunded most  player’s money is testament to how the system has become consumer friendly. Years ago no one would have thought that most banking would be done on the internet as well as the availability of WIFI that dominates the landscape.

Europe has been a leader in adopting regulation regarding online gambling, but as things heat up new measures are being instituted.  Taxes are big issue for many jurisdictions especially the U.K. where online gambling operators moved to tax havens like Gibraltar and are now being forced to pay taxes to the U.K. with the new gambling tax laws asking for a point of consumption tax come this December. The European Commission is expected to reveal its recommendations on consumer protection and advertising in regards to the internet betting industry among member states.

According to the European Gaming and Betting Association recent news report the EGBA hopes the Commission’s recommendations will take stock of the self-regulatory initiatives and pool together a common set of principles which provide for a high level of protection for all EU consumers. This element has been the thorn in the rose bush for the European Union e commerce freedoms initiatives.

The list of recommendations  for online gambling was published by the European Commission’s Action Plan committee in October 2012. Expected to be added to the recommendations is one on betting-related match-fixing. The results of long term studies on the online gambling industry have revealed massive amount s of information that is worth billions of dollars or euro or pounds.

Consumer protection is the paramount aim of the Action plan recommendations. That means issues such as underage gambling, problem gambling, sports corruption, and identity theft. Regulation in the industry is the high road to play on.






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