Why Regulations are Required

Published Tuesday, March 31, 2009 - Online-Casinos.com

The reasons why online gambling should be regulated include a broad range of ideas. The most compelling one is regulations and rules create order and fewer problems. Because the industry in the USA is not regulated by any American government agencies, it is difficult to know what problems exist and how prevalent they are.

Computer hackers, for example, who illegally gain entry into computer systems, are also a problem for the online gambling industry, as in all Internet-based industries. Operators of gambling Web sites say that hackers try to break into their financial databases and take information or manipulate gaming software in their favour. Online gambling sites are very secure as far as hackers are concerned and the established casinos and information portals are there because they have earned good reputations for security.

Studies have shown that a lack of trust is a major factor keeping many traditional gamblers away from Internet sites. People worry that the games are "fixed" or that winnings will not be paid. It should be kept in mind that many financial analysts believe the risk is low when credit cards are used because credit-card transactions are closely monitored and recorded. Without regulation there is a fear that other, less traceable payment methods will become popular, as credit-card use is increasingly being blocked at online gambling sites. Something that could be solved with regulation.

Without federal or state regulation of online gambling sites, no measures are taken to prevent underage gamblers from participating. Research into human behaviour says we like to be entertained and online gambling can provide a great deal of fun. Teens are naturally attracted to fun. To have a regulated system for online gaming gives youth a fair shake. Regulation costs something as everyone knows but not regulating has costs too. Legalization means we can be better equipped to keep it safe and fair for all who want to play.

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