GAMBLING NEWS
USA has violated trading laws according to the European Commission
Jun 12, 2009
USA has been looking in to open up for a legitimate online gambling market for all gambling companies who are interested in taking part of the market. By letting Gambling companies to take part of the US market the Senate counts on tax revenues between $48.6 billion to $62.7 billion over the next 10 years. The money sis at the moment a much needed income for the United States who wouldn’t be able to capitalize on the revenue from citizens gambling on foreign sites online no matter if they are allowed or not.
The legislation that has been put forward by the Barney Frank to be able to regulate the online gambling company’s activity has been criticized by the European Commission in a report that was released yesterday. The report states that the European Commission thinks of the legislation as discriminatory against companies based outside the United States of America. The European Commission is even considering reporting the US government to the World Trade Organization because of the legislation.
The gambling market has been a big and infected question during the last 2 years since the UIGEA was approved in 2006. The Barney Frank bill would open up the market considerably but since it is deemed as discriminating due to the barrier which foreign companies would have to be able to enter the US online gambling market it will take a long time before it is voted through in the senate. The RGA (Remote Gambling Association) where the part that filed a formal complaint to the European commission that led to the report published yesterday.
