Offshore-e-com.com Favicon OFFSHORE-E-COM.COM
Join us on Twitter Lowtax Facebook page Join our discussion on LinkedIn Join us on Google+ Delicious Subscribe to the Tax-News RSS Feed
LOWTAX JURISDICTIONS

Andorra
Anguilla
Aruba
Australia
Austria
Bahamas
Barbados
Belgium
Belize
Bermuda
Botswana
British Virgin Islands
Brunei
Bulgaria
Canada
Cayman Islands
Cook Islands
Costa Rica
Cyprus
Czech Republic
Denmark
Dubai
Estonia
France
Germany
Gibraltar
Greece
Grenada
Guernsey
Hong Kong
Hungary
Ireland
Isle of Man
Jersey
Labuan
Latvia
Liberia
Liechtenstein
Lithuania
Luxembourg
Madeira
Malaysia
Malta
Marshall Islands
Mauritius
Monaco
The Netherlands
The Netherlands Antilles
Nevis
New Zealand
Panama
Poland
Portugal
Qatar
Ras Al Khaimah
Romania
Russia
Seychelles
Singapore
Slovakia
Slovenia
South Africa
Spain
St. Kitts
St. Vincent & The Grenadines
Switzerland
Turks & Caicos Islands
United Kingdom
United States
Vanuatu

NEWSLETTER

To receive our free e-commerce updates featuring news and features, please enter your email address below:

ADVERTISING

ADVERTISE ON THIS SITE!

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at charles@bsi-media.com and he will put you in touch with your regional rep..


Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Expat Briefing: A free online publication serving international expatriates and featuring world news, forums, events, in-depth country information and reliable investment and personal taxation guides.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
Offshore Trusts Guide: OTG publishes news, features and newsletters on the use of offshore trust structures.
TreatyPro: Online tax treaty resource.
Global Incorporation Guide [GIG]: A BSI / Lowtax Network international business smart tool.
This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
HOME | CONTACT | RECRUITMENT | ABOUT | LEGAL | LINKS
 

 

Wired Safety Study: Online Gambling Prohibition Does Not Work, by Mike Godfrey, Tax-News.com, Washington
Thursday, December 10, 2009

Wired Safety, an Internet Safety and Educational charity, has produced, as testimony before the House Financial Services Committee in Washington DC, a study which examines a range of harms potentially associated with online gambling, and alternative methods for mitigating or minimizing them.

The study, led by Harvard Professor Malcolm Sparrow, and published by Wired Safety Executive Director Dr. Parry Aftab, recognizes that the current US prohibitionist regime with respect to online gambling is largely ineffective in achieving its aims, and provides no platform or opportunity for the implementation of most of the relevant harm-reduction strategies, concluding that an alternative regime of legalization and regulation of online gambling should improve consumer welfare and protections.

The study acknowledges that millions of US residents gamble online through offshore gambling sites, causing all the uncontrolled gambling-related social costs. Nearly all US states permit some form of commercial gambling, and the industry is large and well-established. Clearly, policymakers have extensive precedent from which to draw strategies to mitigate the potential social harms of gambling.

According to the study, some controls used in bricks-and-mortar casinos may not translate well to online gambling, but several of the risks examined become more amenable to control online. New technologies can be effective, even for those risks that are more difficult to address online. For example, geolocation and age verification technologies can help turn potentially significant risks into manageable ones.

The study analyzes 10 specific risks that are associated with online gambling:

  • Gambling by minors,
  • Fraud by operators,
  • Fraud by players,
  • Organized crime,
  • Money laundering by players,
  • Money laundering by operators,
  • Violation of jurisdictional prohibitions,
  • Breaches of data confidentiality,
  • Lack of site security, and
  • Problem gambling.

The study considers it important that regulators treat each of these potential risks differently. For some risks (such as players cheating other players), the public interest and the interests of the gaming industry align, making a cooperative regulatory relationship natural.

For others (such as those involving potentially criminal conduct by operators), the study thinks a strict enforcement regime would be more appropriate. Still other potential risks (such as underage and problem gambling) call for a more nuanced regulatory approach involving a mixture of strict enforcement, effective nonprofit support, community education, and cooperation, in keeping with the more complex motivations and incentives facing site operators.

For each of the 10 risks, the study examined a set of regulatory methods and technologies that would provide a reasonable degree of risk management in a regulated environment.

According to the study, most of these methods have already been implemented in some form in other jurisdictions. The United Kingdom, Alderney, Gibraltar, and others have successfully implemented regulation, and nearly all of the well-regulated jurisdictions studied address the 10 risks to some degree.

The study believes that the establishment of a well-regulated industry under US jurisdiction would offer far better protection against online gambling‘s potential social harms than outright prohibition. Combining a thoughtful regulatory scheme with education, technology tools, and support is regarded by the study to be the most effective means of handling the realities and risks of online gambling in the United States.

The study recommends that plans for regulating online gambling include the design and use of different risk-management strategies tailored to the different classes of risk that are associated with Internet gambling.


 

STRATEGIC PARTNERS
  Lowtax.net
  Tax-News.com
  USTaxNetwork.com
  Expat Briefing
  LawAndTax-News.com
  LowtaxLibrary.com
  OffshoreTrustsGuide.com
  TreatyPro.com
  Global Incorpoation Guide [GIG]
THE LOWTAX SUBSCRIPTION LIBRARY

THE LOWTAX SUBSCRIPTION LIBRARY

FREE TRIAL NEWS SUBSCRIPTION

The Lowtax Library hosts the web's best-known US and international tax news service costing just $20 per month. Alongside topical, daily news, you can receive weekly newswires on a wide range of subjects.

FREE TRIAL NEWSWIRE SUBSCRIPTIONS

Our 16 up-to-date intelligence reports cover international tax-planning in depth, including banking secrecy, offshore funds, e-commerce and offshore gaming.

SEE REPORT DESCRIPTIONS

IMPORTANT NOTICE: Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All rights reserved. © 2017 Wolters Kluwer TAA Limited


All content on this site has been provided by BSIRN.