Japan prepares to legalize online gambling

Could online legalization be introduced soon?

Online gambling strategists may be required to consider the significant dimension of the Japanese gambling as the county’s politicians prepare to legalize land gambling. There is also a possibility for online regulation at some a certain future point.

According to reports from Reuters, a move for the introduction of bill for casino legalization is gathering momentum after lobbying by lawmakers in Japan for more than a decade already. The market could turn out to be the second biggest in the world, and it makes for high stakes.

A bill for online gambling legalization is considered to have a good chance to pass in the month to come with the Liberal Democratic Party, the one in power, friendly to the business, reports the news agency.

The proposal is being developed at the moment and would see an independent gaming regulator established on the model of the Singapore and Las Vegas regimes. The proposal puts under consideration measures to deal with underage and problem gambling, along with precautions against the organized crime involvement, and money laundering.

From the prospective operators will be demanded business and personal record dating ten years back. Additionally, to the Cabinet would be attached the agency in charge with policing casinos, and it would not be part of any other ministry as a move against the spread of corruption and the ministry officials practice called “amakudari” of retiring to well-paid industry posts.

“The problems of establishing the business should be placed high in priority. It shouldn’t be very easy for a company to receive a license and take part in the industry,” declares the policy plan. “With proper enforcement of the law and regulation, no reason exists for casinos to turn into criminal activity hotbeds.”

Las Vegas Sands Corp, MGM Resorts International, Wynn Resorts Ltd and Melco Crown Entertainment are among those large operators that have demonstrated interest in the development of Japan’s casino resorts.

Parliamentarian have an intention to submit the bill prior to the 2013’s end with a view that it should pass early in 2014. After this time period there would be a two year window for the government to implement the requirements set by politicians.

It is said that the bill enjoys the support of some lawmakers in the Liberal Democratic Party in power of Shinzo Abe, the prime minister.

According to observers, if the timetable is followed, the opening of casino resorts could take place in the middle of 2019, when the Olympics would be hosted by Japan.

Reports from Reuters indicate that while the big operators for online gambling have demonstrated interests in the big urban hubs of Osaka and Tokyo, a dozen smaller towns and cities in Japan are lobbying for the chance to introduce casino resorts in the country.

To fully comprehend the situation read about what online gambling is.