With the incredible and glaringly obvious financial benefits to be gained from the regulation and legalization of online gambling, the list of countries around the world that are making preparations to embrace this industry is growing steadily. The latest of those countries to join in the party is Switzerland, who is preparing to make use of the UK model in order to effectively regulate this growing industry.
It is quite obvious to any casual onlooker that where the United States is falling down dismally, the UK is at the forefront of this thriving industry. Their laws allow the world’s top gaming operators to bring their industry to an accepting public in a perfectly legal and well regulated manner. This has meant that now, the industry’s biggest players are located within the UK, bringing in huge amounts of tax revenue that benefit the country as a whole.
Other countries have been closely watching developments in the UK and are lining up to follow suit. Switzerland have obviously seen enough to convince their government ministers that now is the time to get in on this very lucrative action.
Switzerland have now taken steps to become proactive in the protection of their citizens whilst taking advantage of the financial benefits that this action will bring about.
This is in stark contrast to reactive steps taken by the US to quash online gambling and in an almost identical manner to the failed prohibition of alcohol in the early part of the 20th century. It seems that the politicians that created the UIGEA did not learn from their own history lessons. They are now counting the considerable cost of the actions of the Bush Administration that forced the bill through in 2006 as they watch helpless as the immense river of money is flowing into European coffers and not into those of the US.
Currently, Representative Barney Frank is committed to introducing legislation that will effectively overturn the UIGEA and pave the way for the legal regulation of online gambling carried out in the US. That legislation was due to be brought to life before the end of this month, although it appears that date will slip as other apparently more pressing needs are taking up his time.
In Switzerland, the proposed plan will extend the already legal Internet sports betting side of things to allow licensed online gambling websites and casinos to operate legally as well. Currently it is still illegal to gamble using interactive television as is gambling by telephone in Switzerland.