Green Paper on Online Gambling Presentation Coming Soon

The official definition in the E-commerce Directive for the European Union, and as established under the Information Society Directive 98/34/EC, states, “Online gambling services are any service which involves wagering a stake with monetary value in games of chance, including lotteries and betting transactions that are provided at a distance, by electronic means and at the individual request of a recipient of services.” Malta uses this as its regulatory guideline and has been vocal about creating a constant in a world of regulatory ineffectiveness and instability.

Malta has become one of the worlds leading jurisdictions for internet betting in a mere five years. The European Commission has mentioned that “Malta has managed to attract a big number of online companies due to its favourable tax incentives and a good functioning regulatory system.” As of 2008 Malta already had over 500 online gambling companies registered and running smoothly. It has been following the rules as set out by the commission to the letter.

The Green Paper commissioned by the E.C.’s Michel Barnier, will hopefully when the information is formulated lead to a more harmonized set of regulations for E.U. members.

The paper has been collecting stakeholder’s valued opinions on critical issues that concern internet regulation and operation. The effort takes into consideration the many strengths and weaknesses of various jurisdictions within the Union.

The Green paper asks fifty one questions of the politically and culturally diverse 27 countries. The Commission has identified three issues regarding fraud such as the non-payment of players, identity theft, data protection failures, and the tweaking of software to skew the games and cheat players. Hopefully all the time and money spent collecting the information will lead to a comprehensive set of rules and regulations to facilitate free trade in e commerce around the entire E.U..

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