Online gambling has blossomed since the European Union (EU) has decided to take a leadership position in the online gambling world. There have been numerous reports released by Ashley Fox regarding the latest developments in online gaming. In summary, “Today’s vote, which is the third report on gambling in the mandate of this European Parliament, highlights once more the growing interest of the EU to take action and responsibility in this area.”
There is still some lack of consensus about the online gambling world. When the sector is in agreement about the rules and regulations of the community, the gambling community will work better together. The meeting will also guarantee that a competitive and regulated offer will occur.
Non-compliant EU member states will have to suffer the consequences if they do not adhere to the agreement. The EU fears that those states that refuse to take action as stated in the report and final agreement will create more legal uncertainty for the European-licensed.
In 2007, the EU accepted a US deal to protect the United States market. This helped to keep US markets lucrative, but it didn’t help the EU to gain more sales. Despite the potential to earn more from online lotteries, the EU agreed to the deal that would keep online gambling in the US and in the EU separate.
The problem now requires that they enforce the law. As long as the law is enforced, the European Parliament will maintain control of their revenue, but they’ll miss out on the additional revenue that could be generated from US gamblers. The law will prevent unregulated and underground websites from emerging, but it will be enticing to some to participate in gambling if they find a way onto the site. Only time will tell how the online gambling world will evolve.