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Gambling: Gambling Services
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Gambling on the gaming industry... continues to interest investors. On March 4, 1996, a survey of 417 companies was published in Fortune and based on "eight attributes of reputation" Fortune had a casino firm among the top ten "most admired" US companies: Mirage Resorts ranked #8. Please note that (a) Mirage was not even listed the previous year, (b) Mirage Resorts was ranked #1 in the category of "Quality of Products of Services" and (c) Coca-Cola (which was ranked #3) last year was, in 1996, the #1 "admired" company in the United States of America in 1996! (Anne B. Fisher, 1996, "America's Most Prominent Corporations." Fortune, Vol. 133, No. 4, pages 90-98) American values are changing but the stock market is still a form of gambling. Casino stocks (just as the stock market itself) are not "sure bets" as the following table points out.
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Gambling creates no new wealth. It redistributes wealth on an inequitable basis. It enriches the few and impoverishes the many. Gambling is non-productive. It performs no useful or necessary services. Gambling is parasitic.
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Gambling counselling is usually delivered by professional counsellors who are often either qualified psychologists or social workers. In many jurisdictions services are free or subsidised by government agencies. Telephone counselling services are ... available in many countries. Examples of services include Gamcare (UK) and Gambler's Help (Australia).
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The European Commission has decided to send an official request for information on national legislation restricting the supply and promotion of certain gambling services to Sweden. In April 2006 the Commission sent a similar request for information to Sweden concerning sports betting (IP/06/436). In this new case the Commission wishes to verify whether all national measures relating to poker games and tournaments are consistent and therefore compatible with Article 49 of the EC Treaty, which guarantees the free movement of services. The Commission’s decision relates only to the compatibility of the national measures in question with existing EU law. It does not touch upon the existence of monopolies as such, or on national lotteries. Nor does it have any implications for the liberalisation of the market for gambling services generally, or for the entitlement of Member States to seek to protect the general interest, so long as this is done in a manner consistent with EU law i.e. that any measures are necessary, proportionate and non-discriminatory.
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The State of Minnesota instituted the first court action against an Internet gambling business. In 1997, the attorney general filed charges for deceptive trade practices, false advertising, and consumer fraud against Granite Gate Resorts, a Nevada corporation which did business as On Ramp Internet Computer Services, and Kerry Rogers. [54] Rogers, president of Granite Gate, designed an on-line wagering site called WagerNet. [55] WagerNet was operated by a corporation located in Belize and advertised on On Ramp. [56] The site invited users to join a mailing list, provided On Ramp's telephone number to contact for more information, advised consumers to consult local authorities about the legality of offshore wagering, and stated that WagerNet could file a lawsuit against a bettor in the bettor's own state. [57]
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