Removing Online Gambling Bans Helps Struggling Economies
November 13, 2011 | Article Category: Gaming Law
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There are many who are connected to the online casino world who feel that individuals should have the choice of whether they wish to gamble online or not. There are others who feel that the choice should be made by the lawmakers of the country or state that they are in. Yet others are adamant that online gambling should not be allowed under any circumstances.
While it is reasonable for individuals to ask that they have the freedom of choice in the question of whether they get to gamble online or not, it is somewhat understandable that in a location that does not even allow land based gambling, that online gambling would also be banned. For a moment, we can ignore all the locations that do not allow any forms of land based gambling, and look at those that do, however, for reasons of protectionism, online gambling is banned.
The land based gambling institutions usually pay fairly high taxes, and have been established for many years, and because the land based gambling institutions know that online gambling is so popular and convenient for their players, they are afraid to lose revenue should online gambling be legalized in their jurisdictions.
As far as economics goes, healthy competition usually ends up being the best way to stimulate the economy, and in these trying economic times, healthy competition, rather than trying to hold onto an idea of the past is likely to bring in more revenue to state coffers.
Perhaps the best solution is that those ailing land based casinos and horse racing tracks, that fear they will lose business to online casinos, need to move with the times. There is nothing at all preventing these institutions from hiring those who could develop an online gambling site that is connected to their land based casino or horse racing track. Instead of fighting to hold onto what may be a somewhat dying industry, it would make sense for these gambling institutions to step up and find a way to survive in what has largely become an online world.
When there are those who are anti-online gambling, one needs to look at whether they are anti-gambling, as some are, or whether they are simply afraid that the popularity of online gambling will knock others out of the market. Casinos need to ensure that they are offering players what they want, and if what players want is to be playing online, in most cases, there is no good reason to deny them this.
Removing online gambling bans has been seen to help raise funds for struggling economies. When it is safe and protected and well regulated with good online gambling legislation in place, including protective measures against underage gambling, there is every reason for online gambling revenue to stimulate economic growth.
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