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Britain Wants Control Over Regulations

by Nick Oleflog
( June 20 2006 18:16 )
The British government seeks to control regulations of offshore gambling centers.

Britain is hoping to convince the offshore centers that are reaping the largest benefits of the explosion in online gambling to sign up to new stricter controls at the sites.

The culture secretary told the Financial Times she hopes to host a summit in October to try to gain international agreement on this new code of practice.

Online gambling sites centers include Gibraltar, the Cayman Islands, the Turks and Cayucos Islands, Antigua and Costa Rica.

The British government plans to invite the International Monetary Fund and World Trade Organization, along with ministers from all the main offshore gambling areas.

However, by trying to persuade offshore centers to put at risk their lucrative source of revenue by imposing much tighter regulations, we may we Britain fighting an uphill battle.

Included in the code of practice would be a provision such as requiring age verification checks.

She said she hoped in creating customer confidence would encourage centers to sign up.

Last year, Britons approved the Gambling Act, and set up a legal framework for gambling sites to be based onshore in the UK from September next year. Licensed UK based sites will be able to offer games just about any game available at the casinos.

She insisted the new licensing proposal would not necessarily be a failure. She hopes that we will see a significant number of applications for licensing in the UK, there are many different advantages in being UK licensed, based, taxpaying company under UK regulations.


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