U.S. government's stance on Internet gambling won't change

Antigua and Barbuda demanded $3.44 billion from the U.S government to settle a World Trade Organization dispute over online gambling. A compensation claim was also filled against the U.S by the European Union on Tuesday in which it asked the U.S government to open up other financial sectors as payment because it has eliminated the online gambling from the GATS (General Agreement on Trade in Services) schedule.

Now India has made a similar demand but the experts believe that this won’t make any differences, as the U.S government won't change its opinion about the Internet gambling.

Mark Balestra, director of publishing of the River City Group said that if nothing so far could change the U.S opinion about Internet gambling it’s hard to imagine that something in the future will. The Office of the United States Trade Representative seemed that it hasn't any intentions to change their stance.

When asked about the claims made by Japan and the EU, Gretchen Hamel, the USTR spokeswoman, said that they look forward to study the basis upon which WTO members intend to support their claims of interest.

She also mentioned that the members didn't made commitments on betting and gambling in the Uruguay Round. She also said that they are negotiating with Antigua and Barbuda and hopefully they will resolve an agreement that will please both parts.

The WTO ruled in March that the U.S could not allow U.S companies to offer online horse racing wagers and lotteries unless if they offered companies from other countries the same opportunities.

Dan Ahrens, portfolio manager of the Ladenburg Thalmann Gaming and Casino Fund said the WTO will have a little impact on the U.S policy. He believes that the WTO will stir things up but it won’t change anything.

He said that a study must be made in which the financial benefits of online gambling should be proven, and that the White House should be run by a democrat.

Barney Frank has introduced legislation that would cancel the UIGEA and that would regulate Rep. Shelley Berkley’s act. Ahrens also said that the study has chances of being approved and only then the things might change.