Posts Tagged ‘online gambling legislation’

Chinese Government Concerned Over Underground Online Gambling Industry

We recently heard that there are some problems concerning the online gambling industry in China recently. First of all, I will say that the activity is illegal in China since the Communist party came into power in 1949. Online gambling is currently an underground activity that moves billions of dollars without anyone noticing.

The issue that arose recently is that with the start of the World Cup, there have been gambling syndicates wanting to cash in on the World Cup. The Chinese government has stated that they want to focus all of their efforts in cutting down bets for soccer because it is starting to damage the Chinese Super League, the country’s top professional poker league, and it is an illegal activity.

“The World Cup and other sporting contests will provide momentum to online gambling activities,” said Gu Jian, the deputy chief of China’s Ministry of Public Security’s Internet security division, in a media briefing.

Xu Jianzhuo, Director of Network Security Protection Service at the Public Security Investigation Agency shared his opinion on the matter and stated that in China it is easy to open your own personal gambling site and that is why the activity has spread so quickly.

I have noticed that online gambling is an activity that keeps growing very fast around the world, but the legislation problem continues to restrict online gambling operations from providing services freely. Something that I will never be able to understand is how governments do not realize that banning the activity will not make things easier for them as people in the industry have found ways to do it underground anyway so they are not helping to prevent problem gambling in any way. Instead of making online gambling illegal they should try to incorporate it to the economy and turn their citizens into responsible gamblers, I wonder how long its will take for them to do this or if they ever will.

Unlawful Internet Gambling Act has affected low stakes players

The Unlawful Internet Gambling Enforcement Act (UIGEA) came into effect on June 1st, 2010. The legislation requires all financial insitutions to not process transactions with online gambling companies, hence it impedes players from depositting at their favorite online gambling sites. It is important to notice that the UIGEA does not make online gambling illegal, but it only makes it illegal to deposit and withdraw from the sites.

The first effect of the UIGEA implementation has been a significant raise in the minimum deposit requirement at online gambling sites. Some online gambling sites have almost doubled their minimum deposit requirement and some say it is because the cost of processing transactions through credit cards has gone up, but this is debatable.

The bad news is that this new measure has affected the low stakes players who like putting small amounts of money into online gambling sites and have fun without risking a lot of money. The numbers will probably go down at online casinos as there are a lot of players who concentrate on the low stakes.

The word around the internet forums is that the UIGEA has only been successful in preventing online gambling from being taxed and regulated as a legal activity in the United States. A lot of online gamblers do not think this new measure will prevent everyone from playing casino games online and will definitely not help people who suffer of online gambling addiction.

Personally, I think it is true. Players continue to be successful in depositting into online casinos and poker sites but they often get the feeling that they are doing something wrong. I want to make it clear that online gambling is not an illegal activity and the way in which the US Federal Government is trying to tackle the problem gambler issue is proving to be unsuccessful.

blog: thevirtualcasino.com