And America Falls a Little Further Behind…

November 5th, 2012  :  Written by Patriot #1

UK Culture Secretary Tessa Jowell

“In America it’s Prohibition” ~ UK Culture Secretary Tessa Jowell at Britain’s International Summit on Gambling

Britain’s culture secretary sought to build support among dozens of nations _ but not the U.S. _ for improved regulation of the global Internet gaming industry Tuesday at an international summit on the sector.

Officials from more than 30 countries debated regulation measures just weeks after the United States effectively banned online gambling amid fears it could exploit children and encourage criminal activity.

And so it goes. The USA did not regulate the growing international business when it passed the UIGE Act.

No, it effectively dealt itself out of the game.

With every passing day, the United States falls a little bit more behind in technology, expertise, and the market-place leadership of a burgeoning multi-billion dollar industry.

“Remote gambling has gone from a niche to mass market in a matter of years,” Jowell told journalists during a break in the gathering, the first summit to discuss the global impact of Internet gaming.

“There is a recognition that it is in the interests of all our citizens that we move to a framework of global standards on Internet gaming.”

The U.S. Congress caught the gaming industry by surprise when it added a provision to a bill aimed at improving port security that would make it illegal for banks and credit card companies to settle payments to online gambling sites. U.S. President George W. Bush signed the law Oct. 14.

The decision closed the most lucrative region in a market worth $15.5 billion this year in ‘spend’ value; the amount gambling companies win from their clients, or the amount gamblers lose.

Jowell likened the U.S. decision to a new form of the 1920s Prohibition on alcohol, warning that it would drive the industry underground.

Well, the UK Culture Secretary Tessa Jowell has nailed it – it is Prohibition. And it’s hurting America, not helping it.

More from Articles & Analysis   |   del.icio.us  :  digg  :  newsvine   |   No Comments   

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

 

copyright © 2oo6-2017 Poker Patriots   |   A Member of the Freshplay Network   |   Mostly valid XHTML & CSS   |   Powered by Wordpress