David Carruthers, CEO of BETOnSPORTS, one of the largest Internet sports betting sites in the world, penned a strongly worded editorial in the high profile, Washington, D.C., newspaper "The Hill" last week, urging American legislators to regulate the booming global Internet gaming industry in the United States rather than prohibit it, it has been revealed.
Entitled "To curb gambling abuses, regulate us," Carruthers' op-ed begins by labeling recent attempts by U.S. regulators to ban Internet gambling as "wasted efforts." He calls the $12 billion industry and its (more than) 2,000 companies a "thriving reality that requires regulation," and asks that the government "develop strong regulations that would create consistent and enforceable standards for the industry to uphold."
The article goes on to address existing gaming industry concerns about gambling abuse, and highlights recent efforts to seek "support from governments to devise systematic ways to protect vulnerable populations."
Carruthers proposes the involvement of consumers, watchdog agencies, regulators, and the general public to ensure that firms are responding to people's fears about the industry. He suggests a number of issues that could be tackled by the combined efforts of all of the aforementioned groups, including the prevention of underage gambling; strengthening current methods and devising new ways of curtailing excessive or compulsive gambling; and the ability of regulators to ensure transparency and good corporate governance.
Carruthers accuses American politicians of being uncooperative, and concludes by proposing they change their tune to reflect the advances made by foreign governments, such as that of the United Kingdom, which passed a revised Gambling Act last spring.