European Union Requests U.S. Alter Online Gambling Laws

European based online gambling venues have been urging the United States to relax or to remove online gambling restrictions. Some argue that the ban of online gambling out of the US is against the World Trade Organization. A missive was sent to the US government, written by the European Union, requesting that something be done about the current gambling situation.

The US market represented a powerful source of revenue for European gambling entities. Total revenues have been down for those entities, and the loss is said to be roughly $100 million, give or take. Less than a week ago, the US government froze a bank account that was meant to distribute online poker winnings. This caused an uproar in the European Community, causing the recent action to be taken.

Some suggest that if the UIGEA is overturned like the EU would like it to, licenses may be handed out to American companies to start online casinos within the nation. If this happens, it is very conceivable that online gambling will still be avoiding the European Union. If this were the case, legalized online gambling would hurt the EU more than it helped.

The Obama Administration has declared their decision to undo some of the damage caused under the reign of W, which may include the legalization of online gambling. Foreign business owners implore Obama to consider this as something of a priority. Talks of demanding compensation for lost revenue through the WTO have been the subject of some Internet rumors.