Will online gambling benefit from tighter laws and regulations?
Since the beginning of gambling history there have been those who question and scrutinize whether or not gambling in any form is healthy or acceptable.
It has been found that territory traded hands via games of dice as early as 2300 B.C. in China. Now many years later, gambling has taken many forms and most recently, online casinos are becoming increasingly popular.
The rising success of these online casinos have been the subject of countless studies and the question is always the same - Is gambling good or bad?
Rules, regulations and gambling laws in every country are often under fire, being reshuffled and questioned as there are those who either fight for gambling to be outlawed completely or those who call for gambling laws to be abolished. The studies performed by different institutions take these opinions into account and many conclusions are based on the interviews conducted with those who are for and against gambling in its many forms.
A study recently conducted by the business school at Michigan State University has concluded that the more controlled and precise the laws around gambling become, the more the online gambling industry will benefit. The study also claims that this will increase security and protect consumers from illegal activities.
The main focus of this study was the Unlawful Internet Gambling Enforcement Act of 2006. The business school aimed to assess the costs, benefits and shortcomings of the Act which legalized online gambling activities such as video poker and blackjack with special exceptions being made for fantasy sports, online lotteries and horse racing.
In conclusion, the study claimed that within the United States “the online gambling industry is at the point where it wants controlled regulation" and “both the industry and individuals - including underage and problem gamblers - would be better off if regulation exists."