dickens1298
Dormant account
- Joined
- May 30, 2004
- Location
- LA, California
From an industry perspective, a third-party watchdog - or regulatory - body is altogether a good thing. But would any of the casinos really want it?
If you're a "rogue" casino, you'd obviously NOT want such an agency.
But if you're a decent casino, wouldn't you rather have your integrity serve as a competitive advantage? A regulatory agency would eventually level the playing field, since it would likely restrict or limit rogues. Suddenly, your reputation as a reputable casino isn't much of an advantage since ALL the casinos would also be known as reputable.
As a result, the only benefit of such an agency is to leverage the fact that your casino IS a member, hence implying that the casino HAS integrity. That too is short-lived - either the rogues will be eventually eliminated, leaving only casinos who are members of the agency, or the public will realize that the agency is nothing more than a marketing tool.
Bottom line - the casinos have no real incentive to form a self-regulatory body. It WOULD have to be formed from the outside. Arguably, forums such as this and Winneronline serve such a purpose.
If you're a "rogue" casino, you'd obviously NOT want such an agency.
But if you're a decent casino, wouldn't you rather have your integrity serve as a competitive advantage? A regulatory agency would eventually level the playing field, since it would likely restrict or limit rogues. Suddenly, your reputation as a reputable casino isn't much of an advantage since ALL the casinos would also be known as reputable.
As a result, the only benefit of such an agency is to leverage the fact that your casino IS a member, hence implying that the casino HAS integrity. That too is short-lived - either the rogues will be eventually eliminated, leaving only casinos who are members of the agency, or the public will realize that the agency is nothing more than a marketing tool.
Bottom line - the casinos have no real incentive to form a self-regulatory body. It WOULD have to be formed from the outside. Arguably, forums such as this and Winneronline serve such a purpose.