| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Predictions for 2006
- Friday, 3 Feb 2006
Predictions for 2006 cement the place of online gambling as one of the most dynamic and fast-paced industries in decades. The biggest issue in the industry since its creation has been the traditional anti-gambling stance adopted by the United States; however some industry analysts are predicting 2006 could be the year for change. Among the boldest predictions is that online gambling could be fully legalized and regulated by 2007.
Since gambling revenues have increased dramatically in recent years, controversy has reigned. In 2005 over $10 billion dollars was recorded, the majority of which was derived from the U.S. Many online gambling operators as a result of the U.S. government’s position have sought out more welcoming hosts such as Costa Rica and Gibraltar, while more recently some have made their fortunes by floating on the London Stock Exchange. Yet despite the efforts of Arizona Senator Jon Kyl and his contemporaries who have attempted to pass further legislation outlawing online gambling on the basis of social and moral grounds, there seems little doubt that the industry is here to stay.
While Kyl has attracted the support of a strong anti-gambling lobby, an equal amount of pressure has recently been applied to the U.S. government in favour of regulating and legalizing the industry. Adherents cite player protection and employment, growth and investment opportunities as its major benefits. Their argument is undoubtedly a strong one. Even opponents of legalization admit that online customers in the U.S. spend 10 times more on online gambling than on pornography. While these two distinct positions continue to influence the position of online gaming in society, 2006 could prove to be a very interesting year. | |
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