Regulating Online Gambling

Online Gambling

The online gambling industry is regulated by a few different bodies, and some memberships mean more than others. Although eCogra is the industry’s arm, not all websites are members. Another similar organization, EGBA, comprises six privately owned sports betting companies. Both organizations have similar goals and aims. One is to prevent problem gambling, while the other is to keep gambling safe. However, it is important to remember that not all licensing bodies are equal.

The restaurant industry has about $780 billion in sales per year, while online casinos don’t have this much. After all, everyone eats, and a large percentage of this is done in restaurants. While the average restaurant customer is worth around $1000 a year, the average gambler can be worth many times more. So, why is online gambling growing so quickly? Because online casinos aren’t limited by physical space, they can offer lower registration incentives and promotional offers. These savings can be passed onto the gamers.

However, it is important to note that there are still some pitfalls associated with online gambling. In 2007, only 6 percent of the British population had used the internet to gamble. Online gambling may also increase lottery participation. As a result, regulation of online gambling is essential. However, there is no single, comprehensive measure that will protect consumers from online gambling. And while there’s no’silver bullet’, research is still needed to determine the best way to regulate the industry and prevent harmful consequences.