Dutch preparing to regulate online Casinos
Casino News - 15th October 2010
It has been reported that the Dutch are preparing to regulate online casinos, a move that will see online casinos becoming a major source of revenue for The Netherlands.
The new right wing government that is coming into power is expected to work on the changes with the aim to bring in billions of dollars of tax revenue for the country. The European Court of Justice provided an opinion to The Netherlands that they would be well within their rights to ban Internet gambling. Since that time, however, the government has looked at the possibilities of regulating the industry in order to gain tax revenue from the increasingly popular activity.
The Netherlands will be the latest country to regulate Internet gambling according to political sources quoted in the Telegraaf and reports by other news agencies.
As Internet gambling is becoming more popular, more and more countries are seeing the potential increase in revenue that can be gained from a regulated online gambling industry. Online gambling revenue is being relied on more heavily by countries around the world, particularly those who are struggling to recover from the recent global financial crisis. European countries have been among the fastest to review the laws for Internet gambling and speed up the process of regulation
In contrast, the US is lagging behind the rest of the world when in comes to the regulation of the online gambling industry. The US is one of the largest online gambling markets in the world, but due to restrictions surrounding online gambling, billions of dollars are being sent out of the US to offshore online casinos.
There have been lobbies against the US government to change the current laws against online gambling. Poker players in the US have headed these campaigns, but have been unsuccessful to date.
