ONLINE GAMBLING REGULATION TO BOOST ECONOMY

 

 

Increased Tax Revenues, Transparency and Consumer Protection to Result from Updating Outdated Law According to Chicago Panel BETonSPORTS plc Hosts Summit as Part of National Public Policy Initiative

Sept. 22 in Chicago, a panel of experts met to discuss Internet gambling and outline ways to regulate this increasingly popular form of entertainment. Hosted by BETonSPORTS plc, operator of the world’s largest online wagering service, the summit was part of a national public policy initiative called “Proposition 1: To Regulate or Prohibit Online Gambling.” Intended to initiate local dialogue on the issue of online gambling and create a structure for lawmakers to regulate the industry, yesterday’s summit was the third in a series of meetings to be held across the U.S. this month.

 

Yesterday’s discussion brought together experts in law, industry and media to discuss the issue’s local, national and global significance. The state of Illinois is unique in its gambling policy — it is one of only five states to specifically prohibit Internet gambling, yet Illinois does permit a limited number of riverboat casinos. In the face of two bills in Congress, one of which calls for the prohibition of online gambling, and an investigation into the industry by the Department of Justice, the panel examined the issues surrounding regulation versus prohibition of the online gaming industry.

 

The panel’s consensus was that regulation would boost the economy by providing tax revenues and adding jobs. It would also force transparency that would legitimize the industry and enable consumer protections, such as enforcing age requirements and providing assistance to problem gamblers. The U.K. has successfully used this model since 1963.

 

Panel member Lawrence G. Walters, first amendment attorney and partner with the national law firm of Weston, Garrou & DeWitt ( http://www.GameAttorneys.com ), has represented clients involved with all aspects of the online gambling industry and has developed an international reputation on Internet law issues. For Thailand, go for เว็บพนันได้เงินจริง

 

“Prohibiting online gambling is not a reasonable solution for the mere reason that the technology isn’t going anywhere,” said Walters. “With the rapid rise of Internet activity nationwide, the government will eventually have to face the fact that prohibiting this form of entertainment will only have negative effects and will encourage the behavior they are trying to curtail.”

 

David Carruthers, CEO of BETonSPORTS plc, stated, “Millions of consumers in the U.S. gamble online, and we want to set the stage for hosting a safe Internet site with sensible regulation benefiting not only the consumer but the government. Online gambling allows the government the opportunity to capitalize on revenues upwards of $100 billion, which is the amount Americans bet on sports every year on the street and on college campuses.”

 

Kevin Smith, staff writer for Interactive Gaming News, added, “There is a need to introduce new legislation to ensure responsible practices on the part of the industry and online gamblers. It’s doubtful that current bills to regulate online gambling will pass.”

 

The Summit tour will conclude in Los Angeles on September 24. Also part of the initiative is a series of college campus debates and an advertising campaign.

 

College Debates

 

BETonSPORTS will host a series of debates that tackle the issues surrounding the growth and proliferation of online gambling on college campuses — from whether “responsible gambling” is a contradiction in terms, to exploration of the ethical issues of student-athletes wagering on collegiate games.

 

Students make up a growing part of the online gambling market and yet they have not been actively engaged on the issues, let alone discussion on what constitutes responsible online gambling. Moreover, according to the NCAA, gambling by student-athletes is occurring at a “startling” rate. As students continue to use the Internet for gambling, these debates will help them become better informed on the issues, understand responsible gambling, and have an impact on public policy-making.

 

National Advertising Campaign

 

As part of BETonSPORTS’ “Right to Wager” campaign, television advertisements making the case for online gambling enthusiasts’ right to decide whether to wager online or not have started airing in 20 cities across the U.S. including Chicago, Los Angeles, New York and Washington, D.C. The television ads are running in conjunction with an online campaign where visitors are asked to sign a petition and/or send a letter to their congressman. Print advertising is set to run in newspapers nationwide as well.

 

For a complete list of Summit panel members, to obtain a copy of the advertisements, or to participate in or attend either the Summit meetings or the College Debates, please contact Kajal Jhaveri, Ruder Finn, at 212-593-5864 or jhaverik@ruderfinn.com.

 

BETonSPORTS, which operates the largest online wagering service in the world, is committed to providing its clients with the most value for their wagering dollar and quality customer service capabilities. Headquartered in San Jose, Costa Rica, the company is licensed in the Caribbean, Central America and Europe, and has obtained a bookmakers permit in the UK, where gambling has been a legal and respected tradition for over forty years. The company trades under the symbol BSS.L on the London Stock Exchange’s Alternative Investment Market.

BETonSPORTS.com has been ranked the number one sportsbook by a number of leading industry organizations, including the Offshore Gaming Association (OSGA), the International Sports Book Council (ISBC) and Insiders Football Guide. Visit http://www.BETonSPORTS.com for more information.