Bermuda Mulls Online Gambling Option

Written by:
Jagajeet Chiba
Published on:
Oct/30/2008
Bermuda

The Bermuda government has suggested it is interested in entering the multi billion dollar online gambling industry, but at what price?

The current climate for Internet gambling is tumultuous to say the least.  Countries from the United States to those throughout Europe have imposed laws against the activity.

"The Island is currently assessing its suitability as a centre of Internet gaming, following a path taken by rival jurisdictions including Antigua and Barbuda and Costa Rica," writes Tim Smith of the Royal Gazette.

Several years ago, Antigua turned to Internet gambling - a $12 billion global business - as a way to end its reliance on tourism, a problem Premier Ewart Brown is equally keen to solve in Bermuda, Smith adds.

Bermuda could prove a great location not just to US entrepreneurs but also to European operators should the United States government lift current restrictions on the activity once a new administration enters into office.

Flying time between Bermuda and New York is just over two hours. 

The Premier, through his press secretary Glenn Jones, has refused to give any information about what we could expect to see in Bermuda, or to confirm exactly what he had in mind when he announced Innovation would determine Bermuda's suitability as a centre of Internet gaming.

Dr. Brown's predecessor as Tourism Minister, Renee Webb, backed the study, telling The Royal Gazette: "I was publicly in support of legalising gambling. Firstly, because it already exists through bingo, horse-racing, football pools and Crown and Anchor.

"So you are not legalising gambling but extending what already exists Islandwide. I supported a national lottery where the benefits go to education, the arts and other national causes similar to the British lottery.

"With respect to casinos, I supported them in principle as sophisticated entertainment centres - containing restaurants, shows, and gambling tables.

"These forms of gambling endeavour exist worldwide in places that once outlawed gambling, such as Sri Lanka, Egypt, and Caribbean islands. In these cases it is not widespread but restricted to certain areas like hotels."

Ms Webb said she had two feasibility studies done in her time as a Minister and met with at least two groups who were interested in opening operations in Bermuda. The Premier also mentioned the feasibility study in an interview with the BBC World Service while on his current trip to the UK.

 

Jagajeet Chiba, Gambling911.com

Gambling News

Bitcoin Catapults Above $4K Mark

Bitcoin Catapults Above $4K Mark

The cryptocurrency Bitcoin had risen above the $4000 mark Saturday afternoon, trading at $4111 at 2:38 pm EST.

Connecticut to Hold Sports Betting Hearing Tuesday

Connecticut to Hold Sports Betting Hearing Tuesday

There was lots of interest in betting sports at Connecticut's famed Mohegan Sun and Foxwoods casinos following news that a hearing on the topic is set to take place at 10 am this coming Tuesday. 

Caesars Offers Few Clues on State of Talks With Carl Icahn

Caesars Entertainment Corp. gave few clues Thursday as to the status of its talks with billionaire Carl Icahn, who has taken a large stake in the casino giant and says he wants fundamental changes in the company.

Where Can I Bet the Oscars Online From Georgia?

Where Can I Bet the Oscars Online From Georgia?

You can bet the Oscars online from Georgia using any number of internationally-based websites.  Georgia itself does not host online sports betting sites that would offer Oscar betting.

Other Football Lagues Seek Boost From Legal Sports Betting

Other Football Lagues Seek Boost From Legal Sports Betting

The National Football League is king when it comes to legal sports bets, but other professional gridiron leagues are also looking to embrace and profit from it.

Syndicate