4/26/09 Good news for online gambling – The number of jurisdictions opening up to online gambling is increasing and the trend will continue.
There are many good reasons why it makes sense to regulate and tax online gambling.
Demand for online gambling is strong. People like gambling and they like online gambling. When demand is strong it’s a waste of time and energy to try to stop people because they will find a way to do what they like doing.
Politicians that try to block online gambling have already, or will pay the price because many won’t get re-elected. People want online gambling and they have the right to decide what is the best for them. A few rotten politicians can’t continue to try to dictate what adults can, and can’t do inside their homes.
Prohibitions don’t work, and they only drive the industry underground. Instead of offering good solutions, prohibitions only aggravate the problems.
Land-based casinos are heavily suffering and it will get worse before it gets better for many of them. Many land-based casinos have billions of dollars of debts and sinking revenues. Some years ago, land-based casinos took the wrong decision to support blocking online gambling, and now they got caught at their own stupid games because they are blocked from offering online gambling when they need it the most.
Many land-based casinos failed to understand that online gambling should not be their enemy. On the contrary, online gambling is the perfect solution to give land-based casinos additional revenues.
The land-based casinos that persist with their out of touch stupid attitudes to try to block regulated and licensed online gambling will find it very hard to survive. They should not be bailed out with billions of dollars of taxpayers’ money. They should file for bankruptcy and take care of their own problems.
Many countries have massive budget deficits. Printing more money is not the answer and neither running huge deficits. The solution is to stop the bleeding and generate some additional, and new revenues. Many countries are very busy trying to help dead companies by giving them billions of dollars to support their failures. How long can they do this?
Why give away billions of dollars to dead companies when the money could be used for much better causes? Many governments feel the need to give away billions of dollars just to show that they are doing something to solve the economic crisis. They would be better off to let the inefficient and dead companies go out of business and keep the money for other priorities. It’s a waste of money to finance companies that are not competitive and are out of touch with today’s needs. It’s not the government’s role to act as a generous charity with unlimited money, taxpayers’ money.
Many countries have failed to understand that online gambling is best regulated and taxed. Some have taken the stupid decision to block online gambling, only to allow their own government controlled online gambling to try to grab a share of the market.
All these irrational decisions are only buying time. They are not fixing any problems. There is no future in not respecting trade agreements.
No country can afford today to keep on breaking World Trade Organization and European Union trade agreements and regulations.
Any country that doesn’t respect these agreements take the big risk of scaring away investors that don’t want to invest in a country that refuses to respect established agreements.
Around the world financial institutions are struggling to survive, and they got hit very hard by the financial and economic crisis. Many deserve to get hit and go out of business because they aggravated the problems in the first place with their irresponsible greed.
Today, the financial institutions would love to process the payments for online gambling because it’s a profitable market and they need the additional revenues.
Like with everything, you will always find a minority of politicians that will be against online gambling. They are the same that are against land-based casinos and any form of gambling. It doesn’t matter what is up for voting, you will always have some that don’t agree. This is democracy, and I don’t have a problem with this.
You can’t allow a few politicians to do what is the best for them, even when it’s clearly against the country’s best interests. You can’t allow a few rotten politicians to give a bad name to an entire country.
Fixing the world economies is a serious and major challenge. It can only be done through international co-operation between the countries. It can’t be done with protectionism that blocks free trade between states or countries. Stupid politicians can try to block anything, but they must realize that their country will pay a heavy price for their stupidity.
When a country blocks $1 billion it can easily lose $100 billion as a direct consequence.
A minority of politicians desperate to get votes from the religious parties will do anything to get re-elected, including trying to block online gambling. They are the same groups that brain wash people not to use condoms to protect themselves against Aids and they prefer to let people die instead.
Members of the same religious parties repeatedly sexually abuse under aged kids. Where is the morality here. What morality? These sick in the head and disgusting child molesters and pedophiles don’t know the meaning of the word morality when it’s for their own sickening pleasure, but they think they know it when it’s to brain wash people about their morality for so called religious reasons.
Some of these religious parties and their rotten politicians have no credibility whatsoever. Nobody should take any morality lessons from them because they are rotten to the bones.
Countries should not allow a minority of losers to try to tell the rest of us what we should do. Included in the list of losers there are some rotten politicians, religious parties, socialists, communists, and a few fanatic groups. These losers should mind their own business and stay out of decisions that are needed by some many countries and people. These losers are failures, and even in democracies, losers and failures should not be able to influence so much the rest of the people.
The world is in a very serious and deep economic and financial mess, and the solution will certainly not come from these losers. All they can do is aggravate the problems at a time when countries and politicians can no longer afford to make more mistakes.
As long as the taxes are reasonable and competitive, I am 100% in favor of legalizing, regulating and taxing online gambling.
I only have one reservation regarding sports betting because many sports games are fixed, and online gambling on sports bets has the potential to aggravate the situation by allowing gangs to take advantage of players that don’t have access to inside information. Apart from that, all casino games, poker, games of skill or luck, lotteries, lotto, bingo, etc….. must be regulated and taxed and opened up.
At the end of the day, online gambling needs to be regulated and taxed for the benefit of the majority of countries and people.