Regualting Gambling Vs Banning It

The British have hosted a meeting where 30 countries are participating whose aim is to discuss how to regulate the worldwide gaming industry. The USA that has banned the industry by introducing a bill recently had declined to participate. The idea of the meeting is to hammer out a way to regulate the industry, so that, at least youngster will not be involved, which is feared to lead to a lot of criminal activities.

The participants have stated that a regulated Internet gambling industry would offer the gamblers better protection than outlawing it. The gambling industry’s overall income known as "spend", the amount of money players lose for the industry had reached $15.5 billion and the measure USA government took by banning the online gaming industry for American citizens has cost some of the participants that are originally from Britain and other European countries up to 80% of their business. One recommendation the participants arrived at is to come up with a mechanism that will protect the youth and the vulnerable by going through an identifying process.