The UK to Become the Center of Online Gambling
12 Oct 2006
The British government is seeking ways to ensure that exiled US gambling companies make their new home in the United Kingdom. It is finally fact - the United States has effectively shut down online gambling in its country. Many internet gambling companies have been scrambling to find new markets throughout the globe and the United Kingdom seems to a firm favorite. Already, many gambling companies operate off the British stock exchange despite the fact that the United States fed up to 80% of its client base. Now that many companies have been forced to essentially block US customers, British politicians are trying to make their country the world center of online gambling.
Details released recently suggest that the British government is trying to woo big names in the internet gambling business. Ministers have been attacked for their drive to meet online gambling bosses - usually at the expense of taxpayers' money. Not everybody sees this move in a negative light, however. Many feel that attracting online gambling to the United Kingdom will provide excellent tax revenues to the country and also provide the opportunity for England to regulate an industry that is not always considered safe for the consumer.
British culture secretary, Tessa Jowell, is due to host a gathering of international politicians at Ascot in order to discuss the future of online gambling. It is hoped that the UK will become a leader in international regulation and be considered a 'safe-ground' by many gambling companies seeking a new home.
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