AUTHOR: Jerry "Jet" Whittaker TITLE: UK to Regulate Internet Gambling DATE: 6:51 AM ----- BODY: The British government has unveiled plans to regulate Internet gambling at
an international summit held at Ascot racecourse, and commented that the
recent Unlawful Internet Gambling Enforcement Act in the US threatened to
drive the industry underground. Culture Secretary Tessa Jowell explained
that Britain opposed the US ban, due to the risk of driving the industry
into criminal hands. 'We do not support the approach the United States has
taken. The enormous risk of prohibition is that it forces the industry
underground,' she said, likening the move to the US ban on alcohol sales in
the 1920s. The United States declined to attend the summit, which agreed a
draft framework of regulation to protect consumers and prevent underage
gambling and gambling addiction. The US effectively banned online gaming at
the end of September in a move that wiped billions of pounds off the share
prices of major Internet gaming companies. Following the summit, sports
minister Richard Caborn claimed to be happy with the significant progress
made, and wanted to involve wider international institutions, including
UNESCO and the global financial sector. 'We now have in place a road map
that will lead to better regulated remote gambling across the world,' he
said. 'Those present today agreed to cooperate further in a number of key
areas to ensure that gambling remains fair, crime-free and vulnerable people
are protected.' --------