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Saturday, 18 July 2009

My comments re: Online gambling in Europe: A stacked deck | The Economist

Online gambling in Europe: A stacked deck | The Economist

Remote (i.e. via internet, TV, mobile) gaming gambling is boarder less.

EU maybe a economic union (every tries) but due to too much (mostly money but also protections of vulnerables & promote transparencies), not likely the EC could be devising a directive on remote gaming gambling anytime yet.

It is lobbyist and lawyers dream sector, thats why since 2002, I keep on seeing market leading lawyers (who obviously are new on the scene).

Reality is that unless and until a G8 country start regulating remote gaming properly, EU is not likely to realise the 'threat' and get its act together, by that time however, it maybe too late!

Sadly due to the unrealistic expectation/regards to market dynamics (the Gambling ACT 2005 from UK was and still is arguably the best regulation worldwide), the UK treasury set the tax based on 'offline gaming' and hence made the UK remote gaming gambling much less competitive, therefore, there was no 'mass migration' of remote gaming firms (& some back)to UK.

It is for sure that there is a 'convergence' of softer gaming and entertainments/media going forward, I sincerely hope that a major jurisdiction will be able to get their act together (or maybe indeed EU) to have a coherent regulation and competitive tax regime so that the regulation will become more seamless and transparent.

More time should be spent on understanding the sector more and yes, the future is still bright and great but only with the well regulated and well run firms with recognisable brands and distributions (via TV/Internet/mobile) going forward.

Some of the key issues has been explored and free reports are available on the non profit Gambit special interest group website: http://www.TheGambit.info

@GarethWong



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