The European Union has joined Barbuda and Antigua in their demand for compensation from the US for not abiding by the global trade rules in line with its online gaming ban, Forbes announced.
Last year, the Unlawful Internet Gambling Enforcement Act was passed by the United States to further the restriction on online gambling activities, which some contend, are not technically illegitimate. This new law obliged various British gaming operators which include PartyGaming Plc., PartyPoker.com’s operator, to shut off business with the American market.
The fact that around half the globe’s online gamblers are US-based and that it has around $15.5 billion market worth, the restriction is a substantial loss of revenue for any country with companies investing in the industry of online gambling.
The US has agreed to be a member of the World Trade Organisation’s rule on online gambling ban which is set out since the establishment of the organisation.
The US is working on a process to change their agreement with the organisation to exclude online gambling, instead of complying with WTO’s ruling against it.
Measuring the loss of the European businesses will be the first move in the negotiations, before working on concessions. In line with this, steps have also been taken by the US to amend its online gambling laws, including a legislation introduced this year bidding to regulate and legalise online gambling.
Last year, the Unlawful Internet Gambling Enforcement Act was passed by the United States to further the restriction on online gambling activities, which some contend, are not technically illegitimate. This new law obliged various British gaming operators which include PartyGaming Plc., PartyPoker.com’s operator, to shut off business with the American market.
The fact that around half the globe’s online gamblers are US-based and that it has around $15.5 billion market worth, the restriction is a substantial loss of revenue for any country with companies investing in the industry of online gambling.
The US has agreed to be a member of the World Trade Organisation’s rule on online gambling ban which is set out since the establishment of the organisation.
The US is working on a process to change their agreement with the organisation to exclude online gambling, instead of complying with WTO’s ruling against it.
Measuring the loss of the European businesses will be the first move in the negotiations, before working on concessions. In line with this, steps have also been taken by the US to amend its online gambling laws, including a legislation introduced this year bidding to regulate and legalise online gambling.
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