A press release was sent out by the Safe and Secure Internet Gambling Initiative (SSIGI) on Monday stating that Bristish Government officials are endorsing the United States’ regulation of online gambling. The British Government has signaled quite clearly that they would actually prefer to see the U.S. regulate online gambling rather than prohibiting the industry.
The European Union has also been in negotiations with the United States for compensation because of the online gambling ban. On a recent visit to Washington D.C., EU Trade Commissioner Peter Mandelson said that Congress either needed to open up the online gambling market to European operators or pay the compensation.
The United States is facing a potential $100 billion claim from the European Union in the trade dispute.
There is already a bill introduced in the U.S. Congress that could end the online gambling ban and bring the nation back into compliance with World Trade Organization regulations.
Rep. Barney Frank (D-Mass.) introduced H.R. 2046, the Internet Gambling Regulation and Enforcement Act, in the House of Representatives earlier this year.
The bill would legalize the Online Casino Singapore industry and set up a system of regulating and licensing online gambling businesses who want to serve U.S. customers.
Instead of following that route after the WTO ruled again this year that the online gambling ban violated trade regulations, the United States chose to start the process to withdraw its obligations with regard to free trade in the gaming area.
So Antigua and Barbuda, which initiated the original case, is now asking for $3.7 billion in compensation, and the United States is open to trade concession demands from other countries involved in the online gambling sector.
If the United States and the European Union can’t come to a settlement agreement, the European Union could demand a binding arbitration before a WTO panel.
Antigua is already involved in arbitration with the United States. The latest deadline for the two to come to an agreement is set for Friday.