Industry News
To Recoup 'Billions' in Gambling Revenue Losses
Trouble is, for the Americans, their export is being turned against them.The European Union wants damages from the U.S. for the money its many companies have lost because of the ban on Internet gambling, signed by President Bush last fall, after being passed by the radical Republicans during their last days in Congress.
Some supporters of legalized Internet gambling believe the gambit, announced this week, will increase pressure on lawmakers to regulate, rather than ban, Internet gaming. The European Union is the latest in a number of foreign governments that have labeled the U.S. ban illegal and are demanding compensation.
Show Them the Money
Currently, the American government prohibits foreign Internet gambling companies from doing business with U.S. citizens, but allows domestic companies to accept online bets for horse racing. Earlier this week, the European Union joined Antigua and Barbuda to claim what constitutes a violation of "fair trade" rules. The parties are now seeking compensation for benefits they claim they have lost -- damages for the ban. The World Trade Organization also issued a ruling earlier, indicating the ban violates international trade agreements.According to Jeffrey Sandman, a spokesman for the Safe and Secure Internet Gambling Initiative, the European Union's demands -- to receive compensation for not being allowed to accept bets on horse racing -- are a step toward making the U.S. comply with the WTO.
According to Sandman, the U.S. must address the "hypocrisy in the way it treats Internet gambling," which allows people to bet on horses but not games like poker, pinochle, or other activities. Sandman said the government must do one of two things: The government must pay "billions" in trade compensation to other countries for not complying with WTO trade agreements, which will affect U.S. industries with no involvement in gambling. To avoid that, the government should regulate Internet gambling and level the playing field among domestic and foreign-based Internet gambling operators.
Domestic Support for Damages
"We support the European Union's effort and hope it will serve as a wake-up call for lawmakers that regulated Internet gambling is needed to bring the U.S. into compliance with the WTO, avoid affecting unrelated industries, better protect consumers, and generate billions of dollars for important government programs," Sandman.Sandman said he backs the bill, recently introduced by U.S. Rep. Barney Frank (D-Mass.) to regulate Internet gambling, and repeal the ban. That measure would require any online gambling operator wanting to do business in America to obtain a license and protect consumers from compulsive and underage gambling, while ensuring its financial transactions.
"Without regulation, there is no way to protect against such abuses," Sandman said.
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