DOES THE SPEED OF ONLINE CASINO ACTION DEMAND TIGHTER FINANCIAL CONTROLS?

5 January 2007

Here's one Brit MP who thinks so....

British politician Mike Weir, an MP representing the Scottish National Party in the Angus constituency of Scotland has called for a cap on individual Internet wagers of GBP 1 000 a week, and has suggested that online gamblers be limited to the use of one credit card on a gambling site (see previous InfoPowa reports)

The politician is one of several parliamentarians who rationalise that such interference is justified on grounds of survey results that illustrate the popularity of online gambling, the reality TV coverage it generates and the faster pace of online gambling action.

The concern is that some gamblers may not have aufficient discipline or self-control in a national economic climate where credit is not difficult to obtain. Credit card companies have not been particularly active in imposing commercial controls, and the fear is that excessive debt could be run up.

General industry reaction has thus far been against the idea of government-induced maximums and restrictions of this nature, claiming that problem gamblers constitute a small but admittedly worrying minority that is better addressed by anti-addictive and underage measures. And it could be argued that tighter control and smart card technology by the banking institutions could have an impact, too. Some GBP 3 million annually is earmarked for problem gambler assistance by the wider industry.

Recent surveys have shown that up to 4 million Brits now play online every month, and the predictions are that this will grow by 22 percent in 2007 thanks to the increased focus on the European market following the American online gambling financial bans.

Online Casino News courtesy of InfoPowa

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