Swiss Latest to Legalize and Regulate Online Casinos

Switzerland is concerned with unregulated online casinos which are growing in popularity, but pay no taxes and represent potential dangers to consumers.

The Swiss government announced it is considering licensing Internet gambling sites. Like many countries, Switzerland is concerned with unregulated online casinos which are growing in popularity, but pay no taxes and represent potential dangers to consumers.

The Swiss response, apparently, will be to license an as-yet-undetermined number of online gaming sites, while cracking down on the black market operators that persist in doing business with Swiss citizens. The Swiss Ministry of Justice says it will craft a proposal licensing legal online gambling sites.

Economists predict proper regulation of Internet gambling could bring in as much as $22 million annually for the small Alpine country.

Swiss legislators say they want to continue to keep gambling using telephones or interactive television illegal. Online lotteries and Internet sports betting are already legal in Switzerland.

OCA gaming analyst Sherman Bradley says,"It makes sense for Switzerland to control its burgeoning online gaming industry with licensing and regulation. The Swiss are too logical a people to follow the prohibition mistakes that have failed in other countries."