A summit meeting to try to establish a framework for international regulation of online gambling has been held in the UK. It comes just weeks after the United States made gambling via the web illegal there. That wiped 5.5 billion euros off the value of internet gambling companies.
Tessa Jowell, the politician in charge of the British Culture Department, hosted the conference attended by representatives of 32 countries, including Britain, France, Germany, Spain and Italy. She said: “The industry has been very hard hit by the American ban on online gambling, they want to demonstrate that they are a responsible and clean industry. If they can meet the very tough regulatory standards, that are required for being licensed in the UK, then they consider that stands them in good stead.”
Jowell says banning internet gambling drives it underground and fuels crime. The regulations due to come into force in Britain next year will require firms to take measures to protect children and gambling addicts. It is estimated that 3.3 million people across Europe bet online.