U.S. Risking Global Trading System by Not Regulating Online Gambling
The EU and the United States had reached an agreement last year on compensation that the US has agreed to pay. Antigua and Costa Rica have filed for arbitration from the World Trade Organization on January 28th. They are both seeking compensation from the U.S. for violating a commitment that was made on cross boarder gambling services.
If the EU decides to join in on the arbitration, the results could be devastating for the United States. With the new arbitration, there is a chance the U.S. pulls out of its GATS commitment.
It that should happen, the United States would face some severe repercussions. Those repercussions could include making angry some important countries such as, Canada and Japan.
The easiest way to defuse the whole situation for the U.S. would be to simply acknowledge the online gambling that is taking place. Then they can get down to the business of regulating an industry that is bringing in billions of dollars. Of which, the government gets none of.
United States Congressman Jim McDermott has just outlined a Bill that would regulate the online gambling industry within the country, and make the government billions of dollars at the same time.
