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Closing Remarks: How Specific Is the Regulation of Gambling?

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Chapter Summary

In some service industries, the European Commission has been following a vigorous policy of opening up the European markets to competition, a process that is also known as market liberalisation. This policy has been and is pursued especially in the so-called network industries, in which the services are delivered over networks that frequently have the character of a natural monopoly. In most EU Member States, suppliers of gambling services, of whatever form, need to have a license. From a technical and economic perspective, the network industries, of course, are very different from the gambling industries. In the language of economics, there are different types of market failures that characterize these industries. In contrast, in the gambling industries, monopolies are not natural, but artificial. They arise as a result of regulation that limits competition. Cost benefit analysis may provide a framework that helps in taking a more balanced approach.

Keywords: cost benefit analysis; EU member states; European commission; gambling regulation; market liberalisation; network industries



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