The online gambling industry is seemingly in a constant state of change. A look around the world shows that many regions are adapting to the state the industry. Let’s take a look a some of the recent news. It’s called the Good, the Bad and the Ugly.
The future of the online gambling industry rests on the addition of new gaming jurisdictions from all over the globe. While all eyes are one the United States to see how well legalized online gambling is being received in Pennsylvania and New Jersey, it’s interesting to see that Jamaica looks poised to take a run at legalizing online casino gambling for its residents.
Based on recent news stories from Trinidad and Tobago, Jamaica’s Minister of Finance and Public Service, Audley Shaw, reported that the government has already started the process of developing the rules and regulations that would be enforced upon the online gaming industry. The Prime Minister has also been in talks with potential investors, who would like to spearhead the introduction of online casino gambling into the islands.
Citing revenues as his primary motivation, Shaw said, “Since last year, the Casino Commission has met with two large international investors, which are now advanced in the preparation of their applications for Integrated Resource Development status.” With these developments, there is a lot of optimism for the growth potential of the gaming sector.”
As a means of trying to dissuade its youth from getting wrapped up in online gambling, the Kenyan government has passed a bill that is intended to levy a heavy 35% revenue tax on online gambling providers. This would include legalized online casinos, sports books and lottery operations. The tax comes on top of an already instituted 30% corporation duty.
While President Uhuru Kenyatta prefers the tax revenue stream that is created by a lower tax rate and more gaming activity, the legislature stood behind its notion that gambling was tearing at the fabric of country. While the country’s younger males are focused on too much gambling, the effects are being found in a stalled economic growth pattern without much needed participation from the same demographic.
Originally, the legislature was going after a proposed tax of up to 50%, but settled for compromise at the 35%. The announcement of the new bill comes less than two months before the country’s next general election.
England’s Premiere Soccer League finds itself still embroiled in online betting controversy. At issue is the discovery that a few, and potentially more than a few, players have been betting on football matches.
In April, Premiere League veteran Joey Barton was suspended for 18 months and fined £30,000 after he was found to have indeed used online bookmakers to wager on football matches all over the world. While feeling the severity of the penalty essentially ends his career, Barton has decided to turn whistleblower on the rest of the league. Not only is Barton trying to expose the level of gambling going on, but he has also attempted to shine a bright light on rampant match-fixing.
If true, match-fixing could be a serious problem that would shake the football industry to the core. This is not the first time these revelations have been brought to light, but Barton appears ready to name names and site specifics.
According to Barton, the FA is reluctant to start addressing the problem in earnest. Any decision to look realistically at the problem could result in the closure of the league. Why? If the FA were to hand down similar penalties to all the players currently gambling on matches, there would be very few left to participate in the league.
Author Bio: John Hanwthorne