Consumer protection paramount in online gaming regulation

    Published in: Latest IntelligenceRegulating online gambling would provide significant revenue for Asian governments and boost consumer protection, though enforcing the rules would cause major headaches, speakers at last weekend’s regulatory summit in the Philippines said.In one of the most hotly debated sessions of the summit, industry experts aimed to address concerns about the impact of regulation and whether making online gambling legal could lead to a spike in addictive behaviour in a region predisposed to gambling.Sungmin KIM, Commissioner at the National Gambling Control Commission (NGCC) of South Korea, said that the prevalence of problem gambling in South Korea was at least 2-3 times higher than that of other developed countries and was estimated at 7.2 percent in 2012.  Total revenue from legal gambling in South Korea reached US$19.2 billion in 2013, with horse racing taking the largest share with $7.54 billion. The lottery and Sports Toto offerings, both of which...

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