Speaking ahead of an international conference to discuss online gaming yesterday, the UK's Culture Secretary, Tessa Jowell argued that the recent US move to ban such activity was not the way forward, and suggested that the UK's proposed regulatory code could become the gold standard for gaming firms throughout the world.
In a radio interview, Ms Jowell explained that:
"In relation to gambling, you have three choices; you allow the market to rule, which some jurisdictions do, you prohibit, which some jurisdictions do, or you regulate. If Internet gambling were to be prohibited, it would drive it underground."
The Culture Secretary additionally indicated on Tuesday that the government is considering putting in place a regime which would allow online gambling sites to be registered in the UK, which would allow them to present a "hallmark of quality" to their customers.
"By being licensed, we have signed up to the very tough regulatory codes to protect the public and that that in time will be very good for their reputation," she stated.
The conference, held at Ascot, was attended by delegates from around 30 countries. However, representatives from the United States were conspicuous by their absence, having reportedly declined an invitation to the meeting.
A comprehensive report in our Intelligence Report series examining offshore e-commerce and online gaming is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.asp
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