|Internet gambling experts from across the industry and beyond have been testifying to US Congress today about the benefits of a successful regulation of the online gambling industry.|
The Remote Gambling Association (RGA), GamCare, plus a partner in the UK law firm who worked on the US – Antigua WTO case, submitted their individual testimonies to encourage the US to lift the prohibition on Internet Gambling.
The RGA, a trade association representing the largest remote gambling operators, told the House Committee on Financial Services how regulated Internet gambling can protect consumers and the payment system.
“Within the United States vast amounts of credit card transactions take place on a daily basis. The system is well established and well policed in order to counteract fraudulent and criminal transactions. The only circumstance in which crime can flourish is if the activity is unregulated,” said Clive Hawkswood, RGA Chief Executive.
GamCare, a charitable organization committed to addressing the social impact of gambling, also provided testimony on how regulation can help to combat underage and problem gambling, whilst Craig Pouncey, a partner UK law firm Herbert Smith, used his recent experience in handling the WTO – US case to determine that the US would bring itself back into compliance with the WTO should it u-turn to regulate the industry.
“Appropriate regulation of Internet gambling would put the US on a road to resolving the WTO problem,” said Pouncey. “The US would avoid having to offer possibly substantial compensation in the form of opening new markets to foreign competition, and, as a result, affecting possibly numerous other economic players in the US who have absolutely nothing to do with gambling, or the WTO gambling dispute.”