When the United States enacted the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 there was a massive amount of angry citizens that did not agree with what the government was doing just because they did not have a way to tax the people profiting from online gambling. Well that is a mistake on the part of the USA, because Ireland is looking into finding a way to regulate the online gambling business.
Since the UIGEA went into affect in 2006, many of the owners or sister companies to the online gambling business decided to make a run for the European land. Well the country of Ireland is looking at it this way. With the United States forcing laws against all payment mechanisms for gambling online, the Irish government is conducting studies that would allow them to rework their outdated laws so companies that run these payment mechanisms can seek refuge in Ireland in which then the Irish government would seek to profit from.
The Irish government had established a committee in 2006 when the United States put forth this UIGEA and has since been brainstorming ways that would implement proper market protections against underage and problem gamblers and to prevent any gain in criminal enterprises which would then build public trust in e-commerce related to online gambling. A report that was recently released stated that “Should this opportunity be grasped within the appropriate timescale, Ireland, as a gaming friendly centre of excellence, can reasonably expect to attract a reasonable portion of this dynamic industry.” The report also stated that Ireland’s Finance Minister examine possibilities of creating a competitive tax rate that would attract other established online gaming business’s to Ireland.