WildBill,
You are absolutely correct in this regulating. This is what has happened here in all Nordic Countries. Denmark, Finland, Norway and Sweden and now Holland might be the next one in Europe.
We have had couple law cases in EU about this and because national interest goes before EU citizen, these things takes a lot of time to change.
Because I have plans to go into this business I have contacted Ministry of Interior here, but just got same BS as I have read from papers. Only exception was that they admit this might create new jobs, but nothing else. They always say that if Finland allows competition in this business it would affect on National Lotto and it might be gone soon. Yes, it affects on it a little bit, but people won't never stop dreaming about Lotto jackpots.
Finnish citizens could bet with Finnish companies witout sending money offshores, people from abroad might bet with these companies, companies would pay taxes and create some jobs, but no.
Now the situation here is that people bet more and more offshore and also gambles at online casinos (I want to keep betting and gambling separated).
My opinion is that goverments should run Lotto and casinos, because basically they are money machines. Las Vegas faces severe competition, thats why casinos might collaps. Problem might be that goverment probably would change payouts to a lower level.
In England a private company runs their Lotto, this is one of the absurds thing I know. How can they lose?? Giving back 45% of every unit staked in winnings is free money for owners.
Internet casinos owned by Goverment, why not. I think people trust them more than those offshore casinos. Deposits and withdrawals would be easy to complete. I don't personally trust software based casinos, but that's not the issue.
I want to get into sportsbetting business, not gambling or Lotto. Goverment can keep those.
[This message was edited by Faceless on June 29, 2003 at 04:50 AM.]