Having government cooperation with the online gaming industry is critical for business growth and game enjoyment. As state and country laws differ quite a bit, governments are not consistent in taxing gambling organizations and winning, regulating safety, and publishing resources. These are some fundamental areas where state and federal governments can explore improving online gaming regulations.
1. Examine the Benefits
Governments stand to make major profits from the taxation and regulation of gambling. Many countries have state or federal taxation on gambling institutions. Some countries, like the United States, tax gamers on their winnings. These funds can benefit government infrastructures and social programs. However, some countries are worried about enforcing high taxes. Financial experts in the UK worry that high taxes can drive small gambling businesses to close and push gamers toward unsafe online gaming sites.
In addition to the alluring tax revenue, governments can also grow their tourist industry by attracting gamers from around the world. Areas such as the French Riviera drive high foot traffic because of major casinos, like the Monte-Carlo, and their reputations of luxury.
2. Enforce Safety
Online gaming sites can gain credibility if governments encourage screening and certificates from online gaming watchdogs. Groups such as the International Association of Gaming Regulators post updates and host conferences on the online gaming community on reputable organizations and what to avoid.
3. Standardize Payment Processes
One of the most worrisome elements for online gamers is a trustworthy payment process for online game winnings. Players want to find online casinos, jackpot slots, and card games that have a reliable method of payment. The less regulated a gaming website, the more likely it is a scam. Websites that partner up with popular payment gateways have more credibility.
4. Collaborate Globally
For governments to truly succeed in gambling regulation, they need to examine what is being done on a global level. Governments can spark discussion by hosting conferences, entering national dialogs with gaming industry leaders, and funding community research. There are a number of online gaming events that encourage international collaboration, such as the Social Gaming and Gambling Summits hosted annually by mediabistro. Various schools of higher learning are examining online gaming in the global marketplace, encouraging further research into gambling apps and websites.
5. Publish Resources
Governments can cultivate a booming online gaming industry by making legal materials, tax information, licensing procedures, statutes, and news accessible to citizens online. Information on social problems concerning addictive gambling should be provided, along with tips on how to game safely. Governments can collaborate with educational institutions to spread business, social and tourism industry awareness on gambling awareness.
6. Technology advancement
Online gambling employees many types of industries: web development, app coding, UI designers, law professionals, payment gatekeepers, tax experts, and more. New jobs in these fields can open up in areas developing online gaming trades. Students in technology fields can have ample opportunities in working with online gambling businesses. As the demand for mobile games and online recreation goes up, these fields become increasingly valuable for gaming companies.
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