The Gambling Business on the Web
Throughout the world, the gaming industry is a powerful sector in the entertainment and tourism economy. As such, it has highly evolved organizations, political trade groups and support institutions. All of the multiple aspects of business and game control are represented by websites accessible from the Internet, from slot machine vendors and to business advisors, licensing and regulatory agencies, legislative committees, and gaming commissions.
The Game Industry – A Divided House
The beginning of gambling goes back to the dark ante-room of the history of human societies. The data (“laughing bones”) go back to the augury with bones; the card games date from the time when they said fortune in the Tarot, the origin of the backgammon seems to be lost in the origin of the first civilizations. In the modern world, gambling is confined as an economic sector, to strict regulatory control.
As a consequence, the control of the formal organization of gambling lies primarily in the government and its agencies and laws, but also in self-governing associations and trade groups. The current debate in the United States government is about banning online gambling, but while different government jurisdictions sponsor lotteries, they sanction online casinos and racetracks (including online gambling for such operations) by highlighting these dividing lines organizations.
When governments are hostile to online gambling, companies seek refuge in more hospitable jurisdictions, especially in Caribbean countries, but also in Gibraltar and the Anglo-Norman Islands. In addition to the lack of strict regulatory control, these companies also seek to get rid of taxes (or get tax cuts), access markets that would otherwise be prohibited by governments, and a measure to isolate legal proceedings from hostile authorities . With the exception of tax cuts, making the business more market sensitive and able to offer lower prices, these influences are generally not good for the consumer public.
Legal casinos in the United States, the UK, Europe, Australia, South Africa and elsewhere are heavily regulated by the government. In addition to tax revenues and licensing costs, governments regulate players’ age, gambling operations, machine programming and construction, advertising, minimum percentages of games, security guarantees, and other topics. These government interests are imposed by state (and tribal) commissions on games with licenses, tests and inspections, and violations are punishable by fines, suspensions, and revocations of licenses. For example, the minimum legal payout on Nevada slot machines is 75% of all money played, and actual payouts are higher, but vary considerably in different places in the state. The paJogontos on the Strip are not as good as in North Las Vegas. In New Jersey, the minimum is 83%. Other laws affect the real rules of the games.