Experiencing a Market Shift

All eyes are toward Europe, with countries such as Italy, Britain and Holland receiving the spotlight, as they are showing signs that they are willing to regulate the industry. They look to embrace what the US government, and not the majority of the American public, sees as a negative influence on US residents.

The US government, still waiting for the final signature from President Bush, is planning to ban online gambling altogether, prohibiting the use of credit cards to settle illegal wagers. To finalize such a decree is to waive a $3.3 billion in tax revenue alone that could be raised annually via legalization and regulation in the US. These funds could in turn be used to effectively combat the negative results of gambling such as addiction, which is another major concern of interest groups against the legalization of online gambling.

Americans bet an estimate $6 billion a year, but the US government has not profited from this business all along. Experts are saying that within five years, the current global industry value will double. Europe is now the target market, where the different governments are regulating the industry, protecting its citizens and hopefully thinking how to direct the cash flow towards such problems as excessive and irresponsible gambling.