Casino Gambling Games

It appears that Switzerland is likely to liberalize its legal bearing on online gambling, and start licensing Internet gambling sites where the Swiss can play Las Vegas gambling games. Economists envisage that proper regulation of the Swiss Internet gambling industry would bring in more than $22m every year for the government. It is believed that this tidy sum would hopefully attract other European Countries to follow suit.

Switzerland has decided to alter its existing policy on online gaming, because of stiff competition from foreign online companies, coupled with a huge loss of revenue by way of taxes. The European Commission or the World Trade Organization has in no way influenced this decision. Interestingly Switzerland is focusing on regulating the online casino section and not the online betting segment like many other countries. However, online lotteries and sports books are declared legal in Switzerland.

Since there are many similarities between the US and the Switzerland markets, this is being flaunted as a role model for the US, along with other non-European Union countries. Switzerland is not a member of the European Union and is not subject to any external interference by third parties, when it comes to reviewing and drafting their regulations. Additionally, both countries run on a federal system, which implies that each state has the liberty to draft its own gambling regulations, while the challenge to negotiate a nationwide regulation is practically non-existent.

More and more countries are turning to regulating and legalizing online gambling, especially when they consider the huge amount of revenue, which is at stake. It’s a matter of time before the US too would be free from the UIGEA, which has been in force right from 2006.