While Rep. John Shadegg (R-Ariz.) attempts to introduce yet another proposal to ban Internet gambling, legitimate concerns about the dangers of online gambling continue to go unaddressed. Online gambling industry insiders say that the best way to address fears about online gambling is by regulating the industry.

Instead of more rhetoric about the dangers of Internet gambling and more, empty legislative exercises to prohibit global Internet businesses from operating in the United States, industry analysts argue that government needs to create regulations with teeth in them that are enforceable and can really protect the vulnerable members of the public.

It may come as a surprise to the general public and critics alike, that members of the online gambling community are just as concerned about the dangers of online gambling as everyone else and that addressing these dangers is a high priority for online gambling businesses. It is for this reason that online gambling companies want to persuade governments to devise systematic ways to protect vulnerable populations. Unfortunately, members of the government have refused to help, insisting instead that Internet gambling should be banned.

Insistence on the ban, however, runs counter to financial and practical sense as the industry is thriving and growing phenomenally. There are more than 2000 businesses in the twelve billion dollar Internet gambling industry and, while many of those businesses are ethical, consistent, enforceable standards are still required to make sure that all of them act accountably.

Specific guidelines and protocol are required to protect those who are vulnerable to gambling and the best way to do this is with watchdog agencies and regulators committed to enforcing standards of responsibility and ethics. It is in the interest of the online gambling industry to, not just respond to the public’s fears about online gambling, but to really do something to protect people vulnerable to gambling abuses. Most online gambling businesses are eager to work with regulators to make sure that all online gambling companies operate responsibly and that the best methods of preventing gambling abuse are put to use. A regulated environment would allow these standards and measures to be implemented.

One of the most important measures that should come under the guidelines and enforcement of a regulatory body are protective measures for preventing underage gambling. Another important goal would be implementing effective measures to curtail excessive or compulsive gambling. Third, but equally important, is that a regulatory body could help ensure transparency and good corporate governance.

Conveniently, the U.S. wouldn’t even have to work that hard to establish a regulatory body for the online gambling industry. The United Kingdom has already established a highly effective model that could be adapted by the United States.

Posted on: February 14, 2006

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