Gambling Goes Global - 1141 Words

Gambling Goes Global on the Internet (Case 5-2) GLOBAL MARKETING Discriminatory or Not? As the case explains, gambling has existed for many centuries all around the globe. With the evolution of the Internet, this form of recreation has become widely available for everyone with Internet access. This has created opportunities for gamblers, but has become a challenge for those trying to stop the spread of such recreation. To answer the first question, of whether Unlawful Internet Gaming Enforcement Act (UIGEA) unfairly discriminates against offshore gaming companies, what is (UIGEA) and what it does or is meant to do should be considered first. In its current form, the UIGEA forces banks and financial institutions from†¦show more content†¦Moreover, the success of such legislative efforts seems hard as there are a great percentage of citizens in disagreement of such law, as are the Poker Players Alliance (PFA) and The American Gaming Association. Both of these huge stakeholders firmly disagree to the legislative efforts. On the other hand, these efforts seem difficult as when implementing the prevention of financial transactions to these services, banks and other financial institutions are greatly affected. This is so, as the term â€Å"Internet Gambling† uses such institutions to process payment for the services provided by offshore gaming companies. Now, the US government is somehow forcing these financial institutions to prevent such payments, not realizing the huge task impose on them. This is a hard task for banks as they are expected to help prevent unlawful internet gambling, when it is hard to even identify and stop cross border payments that are not subject to US law. They strongly believe that preventing the use of online payments is not an effective way to approach such activities. Inefficient Use of Government Resources The above statements lead to the third and last question, which is whether or not the US is devoting substantial time and money to curtail offshore Internet gambling. From the question and answer earlier on whether the (UIGEA) is a fear act or not on offshore gaming companies, it was clearly stated that it is not, hence, this can lead to concludeShow MoreRelatedHow Online Gambling Is The Legal And Development Insights Right Here Essay1464 Words   |  6 PagesHow to Make a Gambling Website? Considering to launch an online gambling business? Get to know all the legal and development insights right here. Online gaming and gambling industry is ripe and striving. The estimated global revenues are predicted to hit $56.8 billion by 2018. If you are planning to start a gambling website, there might be no better time than now. 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