$ £

Bermuda Politician: Country Has Infrastructure For Online Gambling

During a session of parliament, Bermuda's Shadow Finance Minister said that the island nation has the infrastructure to handle online gambling, and urged the MPs to pass legislation to become a player in the industry.

Speaking to the nation's politicians Shadow Finance Minister David Burt said, “Online gaming is a $35 billion global industry, and Bermuda already has the (regulatory) infrastructure to be a player."

“Just as other countries are trying to gain a foothold in some of our industries it is time for Bermuda to do the same. For the sake of the jobs it can create and the tax income that can be generated, we urge Government to move forward with creating an online gaming industry in Bermuda.”

Online betting is a $35 billion industry, and countries from all over the world are moving to legalize and regulate the activity. Burt no doubt sees the potential for large growth, and wants to see Bermuda jump on the boat before it is too crowded.

Burt presented studies from KPMG International Cooperative that showed online betting is one of the fastest growing areas in the betting industry, as well as a piece from the Wall Street Journal that says that online betting throughout the world totaled $35.4 billion.

It is unknown whether or not such a proposal will lead to any action, but Casino Listings will keep on this story and report any further developments.