A case study discussing past and future regulation in the gaming industry. Michael tests the rationality of poker players and uses this empirical research to evaluate arguments for and against regulation whilst considering the future that awaitspoker players and employees of the industry.
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Preview: The laws surrounding gambling in the UK are currently dictated by the Gambling Act of 2005. In particular, the rules regarding online gambling are fairly lax in that a gambling operator does not require a licence from the UK government if their equipment (their server and base of operations) is located outside of Great Britain. The Act also allows these offshore operators to advertise within the UK providing they are based within an approved country. Currently, countries within the EEA (European Economic Area) and other locations such as Gibraltar, the Isle of Man, Antigua and Barbuda and Alderney are all allowed to provide their services to UK residents and advertise within the UK.