Monday, January 16, 2006

The UK to host online gaming summit

The UK is to host the first international summit on online gaming this year. The UK last year became the only industrialised nation to introduce a regulatory framework for the online gambling industry with passage of the Gambling Act.

The UK is keen to become a leader in regulated and legal gambling, allowing both online and physical gambling to proliferate. The UK now has a few leading online gambling sites listed on their stock exchanges.

The summit is a move to stake out thought leadership in the fast growing global gambling industry as well as necessary attempt to get other leading nations to adopt regulations and codes to try and stamp out illegal and under age gambling.

I'm not sure how much success the UK will have in getting other leading countries to play by similar rules, but trying to take leadership in this industry is wise, the economic benefits are obvious.

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