Source: Marc Lesnick - StartCasino.com
A review of the Proposed Legislation for Online Gaming Regulation in the United Kingdom
Late in March 2002, the United Kingdom dropped a bombshell to the i-gaming community: they proposed to relax the laws for gaming and regulate online gambling in the United Kingdom.
If approved, the UK will be the first G-7 nation to regulate online gambling. It would certainly make any form of prohibition from other governments more difficult.
instigated by the "Budd Report." The report was generated by a commission
to study all the financial aspects of gaming within the United Kingdom.
"Unlike most reports generated by USA government appointed commissions,
this was actually looked at and studied by the government," said I.
Nelson Rose, Professor of Law at Whittier Law School.
to Professor Rose, the most fundamental shift within the British Government
is that the proposed laws will no longer view gambling as a "tolerated
vice," but instead as a legitimate business, which would also require regulation.
"It would still be regulated, using a code of practice," said Professor
Rose. For example, no casino advertising would be allowed to target minors.
Internet Gaming community, accolades to the British Government could be
heard world-round. IQ-Ludorum,
an online Casino and Sportsbook software supplier confided that the recent
regulation changes in the UK were more far reaching than even the industry
expected. "The UK government, recognizing the major tax revenues which
can be gained from these changes, particularly acting as a global hub for
online gambling, have taken the online gambling industry into a new era
of growth. As worldwide operators evaluate whether operating under a clearly
regulated jurisdiction such as the UK can benefit their future business,
the number of opportunities for software suppliers such as IQ-Ludorum is
expected to grow dramatically," said John Roberts, Vice President of Sales
for the company.
Dickson, Account executive at Global
Interactive said, "We applaud the United Kingdom's embrace of online
gaming and its understanding of the potential profitability involved. With
our existing infrastructure, we feel we are in the perfect position to
help those looking to gain access to an online casino & sportsbook
gambling website business."
The proposal does not expect the licensing fee to rise significantly. The British Government predicts that enactment would produce £500 million (approx USD $ 720 million) in revenue.
is a summary of the proposals (courtesy of Urbino.net):
Now add Mexico????......
According to Frank Fantini (GamingInvestments.com), Mexico may very well come into the frey. According to his sources, "former U.S. Ambassador to Mexico Jim Jones said Tuesday that he thinks there is a 60 percent chance that gaming will be legalized South of the Border in the March-April legislative session. If not then, he gives gaming a 70 percent chance in the September session."
Mr Fantini said, "if current legislation is enacted, it would go into effect immediately and the application process would open in 120 days. That could mean as early as September."
us that Mexico has two big motivations to legalize casinos:
Marc Lesnick runs StartCasino.com,
an information site for gaming executives on starting a casino business
and a directory of the online gaming industry. Mr. Lesnick both consults
with gaming executives and speaks at numerous industry conferences.
An online resource for casino trade and industry news