What Can the US Learn From Regulated Gambling Markets Like in the UK
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The Department of Justice decriminalized online gambling over a decade ago. It took states nearly nine years to pass new laws and hand out licenses to online casinos and sports betting. Several states allow their citizens to legally engage in online betting today.
In the past, gambling firms used to run their online casinos through various companies. Now, they operate several brands under the same license. The reason is simple: Operators need to meet strict guidelines to obtain a license in a regulated market. Applying for several licenses and maintaining a good standing becomes an administrative nightmare.
The Gambling Commission in the UK introduced various restrictions to online betting and casino games. The black market is rising sharply across Europe. Last year 200,000 people spent over £1.4bn on black markets. Stricter regulations are expected later this year. The US should follow the development closely and ensure not to repeat the same mistake. in UK. In the US, there might be no easy fix for two stubborn parties – gambling firms and the government.
