With all the talk about the UK Gambling Bill, one
would think that legalized online casinos were well under way in Britain.
It is true that several of the best online casinos have adopted new standards
now imposed by internet regulation bodies, such as e Commerce Online Gaming
Regulation and Assurance (eCOGRA). However, the Gambling Commission, which
was created as a result of the Gambling Bill and is responsible for regulating
and monitoring UK-based online casinos, will not go have the power to regulate
until 2007. This is when the UK Gambling Bill will come into full effect,
and begin doing what it is intended to do.
In the meantime, it seems the Gambling Commission is
tied up with land-based casino concerns, which the Gambling Bill is presiding
over as well. The current unresolved issue is whether there will be more
than one super casino, and precisely where at least one of these supposed super
casinos will be going up.
It was expected that the Bill would be met with some
opposition; However, most of this opposition has come against the measures that
legalize online casinos and all forms of internet betting. GamCare, which
is a charity that helps addicted gamblers, recently reported findings that show
the average debt for online gamblers has risen £5,000 from the previous year,
and that more than 1,700 online casinos are now taking real bets from gamblers
over the internet. The charity warns that online gambling is much more
volatile than land-based betting at casinos and parlors. With predictions
showing that online gambling will grow in popularity at a rate of 22% more per
year, the potential for widespread gambling addictions and accumulated debts is
rising sharply.
Many say the reason is that it is too easy for
bettors to gamble with their credit cards at even the best online casinos.
Third party accounts and e-wallets have made this possible - and many players
lose site of the cash value on their credit card accounts. Large funds can
be transferred much faster in online dcasinos, owing to the technological
advances of ever-evolving casino software. All this, says GamCare, could
lead to more accumulation of debt that Britain does not need.