September 18, 2009 (CAP Newswire) — Adding itself to the host of nations around the world calling for fully legalized online gaming, an online news source in Malaysia today laid out the argument for why that country should regulate the activity.

Citing the fact that the current World Cup qualifying matches are creating a situation where illegal gambling rings are raking in large, untaxed sums, the editorial, published in Malaysia’s The Star Online, wonders why the state shouldn’t be sharing in those profits.  

“Police at Bukit Aman’s D7 unit have set up a special unit to monitor syndicates which have gone high-tech, namely, online betting,” the editorial states. “The syndicates are now even accepting credit cards and using Internet banking to receive payments.

“Our current laws prohibit Internet gambling, but these same laws have been ineffective because the syndicates’ operations are almost entirely offshore, thus putting them beyond the reach of local law enforcers.”

The solution? According to the article, any plan to prohibit online gambling would just create more illegal activity, so legalization — and regulation — is the solution, not only to share in the profits but to cut down the power of the illegal syndicates.

The benefits would be: “To deny syndicates control of such activities, which could lead to many other undesirable social ills; so that this form of gaming can be controlled and regulated; so the country gets an economic gain through gaming taxes; and, to create job opportunities.”

Click here to read the full article.

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