IGC Chair Testifies Before Congress Committee
July 12, 2001
IGC is a not-for-profit trade association with over 100 companies throughout the globe including Software producers; Site operators; E-commerce providers; and Information services. IGC shares concerns with lawmakers, so IGC created Code of Conduct, Responsible Gaming Guidelines, and Seal of Approval program.
IGC is not comprised of "Fly by night" organizations, who start up and shut down within weeks, and its members are not Advocates of "Wild West" approach nor are they insensitive to the issues of underage gambling or problem gambling.
IGC and its members want a regulated Internet environment. 54 governments offer a regulatory structure, and now Nevada has passed legislation regulating Internet gambling. The IGC suggests that Public policy challenges are in order. There should be oversight, it is only a matter of deciding whether it should be State or Federal oversight. There needs to be an acknowledgement of the Location of gambling transaction
o Harmonization of regulations between different districts
- Do not make financial institutions policemen because of the message it
will send to the world regarding e-commerce
- No repeat of the Volstead Act
o Vast majority of people were not problem drinkers
o Underworld crime
o Did not nothing to keep alcohol out of the hand of those with drinking
problems
- Las Vegas
o At first, it too was unregulated
o Upon regulation, casino tax revenues fund an entire state
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