The Scandinavian country of Finland has for years had a monopoly of gambling within its borders.  However, this monopoly has recently been threatened by foreign gambling operators who would like nothing better than to curtail the present monopoly of the Finnish government.  One of the main beneficiaries in this endeavour is the French monopoly provider RAY.  The Finnish government is planning legislation to stop foreigners from conducting gambling operations within the borders of Finland.

Recently, the Gaming Director of RAY, Mr. Karl Hyttinen, reportedly stated that he felt RAY would benefit from the proposed gambling legislation.  He stated that the blocking of foreign financial transactions within the realm of online gambling inside Finland can only strengthen his company’s position and monopoly on the market.  

There is another side to this coin, however.  A spokesman for the online gambling industry recently made online gambling news when he said that most people don’t give a hoot about the restriction of the marketing of online gambling companies.  The risk lies in the blocking of the Internet or payment solutions.  This is when the Finnish government is most likely to experience a backlash.  

If they eliminate competition, the Finnish government also runs the risk of decreasing the number of new players whom the government signs up. At the present time, RAY is experiencing a decrease in the number of new players for the Finland-run online games, a sure sign that players have already begun to look elsewhere to find their online gambling enjoyment.

In the United States, there are two proposed pieces of legislation in the State of California designed to help get the State out of its bankruptcy.  The informal hearings have already begun, and the toughest part of the proposed legislation is that there will be a stiff penalty imposed, including the seizure of property and money, if you are caught gambling illegally on the Internet within the jurisdiction of the State of California.

The pivotal online gambling news may come as early as next week when hearings on the legislation are conducted.  Many legislators compare online gambling in California to its famous Gold Rush in the middle of the nineteenth century.  It is estimated that online poker itself will generate $1.4 billion over a 10 year period and create more than 1,400 new jobs.  Before the U.S Government cracked down on offshore gambling sites, it was believed that over 1 million Californians were playing online poker each week.

We will be sure to keep you updated on all the online gambling news in the coming weeks.

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