With the increasing popularity and craze of online casino gaming among the players, it has become a necessity for all the national governments to regulate online gambling. According to the international surveys and reports, players from across the globe actively participate in online gambling. It is true that many of the countries have already regulated online gambling but there are still many that consider it as an illegal activity. The gambling activities remain untaxed and unrecognised in the nations that have not regulated it yet.
Reason Behind Regulating Online Gambling
The main reason of the logic behind regulating the online gambling is that the players are not going to stop playing irrespective of the legal status of these games. Yes, it is true that millions have players today have become a die-hard fan or an addict to these online casino games to the extent that they are never going to leave it in any case. In both regulated and unregulated markets, online gambling has become popular to a wide extent and this customer base is only going to expand in the future and not shrink.
Thus, it is better and the only left with the national governments to legalise or regulate the online gambling in the minimum possible time. The major examples that can be cited here are of Brazil and UK, the nations that still exist with the restriction of online gambling laws. As a result of this, they lose their own revenue by pushing the funds of the playing citizens to other markets.
Growth Factors of Online Casinos
Traditional or land-based casinos demand players to spend money on parking their vehicles and then on buying drinks and meals while playing games in the casino. Further, it takes too much travel in traveling back and forth to the casino. Since people today have busy schedules, they prefer playing casino games and slots like Dracula slot within the comforts of their home. In addition to this, the operators are able to save their massive costs on managing the online casinos. Therefore, the popularity and the growth of these online casinos have increased a lot in the last decade.
When it comes to the growth statistics of online casinos, the overall size of the international online gambling market was at $24.3 billion after the online gambling was first regulated in the year 2009. By the year 2015, this figure actually rose to $35.52. Further, it is expected that in the year 2018, the same figure will go as high as up to $56 billion. The taxable revenue in this industry is huge making it a profitable affair for the governments. Despite being gaining so much from the online gambling industry, some governments are not regulating for it. Thus, the only option left with these non-regulating national governments is to block the IP addresses of all the gambling sites operating in their nation.
The Ethical Concern
The ethical concern for all the national governments is the rising addiction of gambling among the citizens. However, this issue has already been discussed and addressed globally. It has been discussed that the existing regulation models of the online gambling sites must include the warnings for the players. In addition to this, it should make players aware about the addiction of these games and how it can be addressed within the existing regulation policy.
The Bottom Line
It can clearly be seen that the arguments against online gambling are only theoretical in nature. The practical need of the hour is to regulate the online gambling especially by those national governments that are running out of revenue adding options.