Turbulence in the Modern Gambling Industry

The last few years in the gaming industry have been a bit tumultuous.

Recently, a controversial measure passed by the Victorian government extended a casino license for 35 years. The casino must pay a large fee ($1.15 billion); however, it receives a reduced risk of changes in regulations. The casino wanted consistency for players and economic balance for the business.

Various commissions, gambling operators and the gambling public struggle with reform issues, such as screening customers to prevent youthful and incompetent people from participating, the role of new technology in the industry, and balance between UK regulations and international competition for gambling revenue.

The increasing popularity of online and mobile gambling, combined with the social acceptance of the entertainment value, leads to the inevitable questions of regulation. Who should play? How? When?

From the commission’s perspective, licensing casinos allows for inspections and compliance interventions. The Internet and mobile options make this job more difficult.

Legitimate operators and players desire some regulation and consistent compliance to assure that sites remain honest and competitive. One bad operator destroys the credibility of the industry.

Most people gamble with their heads. The entertainment budget is spent, not the rent. The addicted gambler becomes the responsibility of the house under many regulations.

The challenge in the new era of electronic gambling is maintaining control over the problem gamblers. In-person policing is easier than online policing. Age and capacity can be more easily disguised electronically than in person.

The regulators and casino operators are keenly aware of the challenges of modernization. Players should prefer legitimate, ethical sites. But how can regulators assure, with a license, continued ethical behaviour in a medium that makes falsification easy?

The next few years promise to remain hectic in the gambling industry. Operators can do their part with compliance to regulations, and players can stick to legitimately licensed sites and bet with their budgets in mind.