The Next Steps for the Internet Gaming Industry
The industry must adopt the idea that taxation of the gaming industry can benefit the industry. Regulation and licensing has provided real protections and improvements for both the gaming provider and the gaming consumer. The legitimizing of the industry through government participation gives players the rightful impression that their transactions and gaming have the opportunity for legal recourse and the expectation of consumer protection. This also protects the gaming provider from frivolous attempts of chargebacks, the reduction of chargebacks and can reduce fees incurred at higher rates from dealings with non-compliant processors. Doing business in a regulated business environment can only grow the industry and the simple fact is that funds going to taxes will be recouped by the reduction of processing fees, but also in opening up the industry to a new wave of players.
This is not a process that excludes the desires of the gaming industry, but requires the input of the men and women of the industry; the best experts. There are dying sections of the industry simply because there is no socio-economic support from outliers in the industry. To grow the gaming industry, it is required that players are plentiful and prosperous. Taxation could be looked at as the greatest bonus available to our consumers.