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Bad news from Belgium

Posted By: Daniel Murphy
Date: Friday, 8 October 2010, at 6:36 p.m.

In Response To: Bad news from Belgium (Rich Munitz)

By the same logic, investing in the financial markets should be illegal.

It's not a question of logic. It's a question of which activities a government decides to subject to which regulations. Gaming laws, in fact, frequently specifically exempt various forms of financial activities, such as investing in stock and options markets, from the jurisdiction of the gaming laws.

The presence of random elements must be argued to be incidental to the skill and not dominating the outcome

That argument can be made and in some jurisdictions may be successful, but it must be remembered that which games are regulated does not depend independtenly on the nature of the game, but on which games are legislatively defined as subject to regulation. In other words, if a government defines and regulates (or not) a "game of skill" as one in which skill is dominant, then that argument may be successful. But if a government defines and regulates a game as a "game of chance" or as a "game combining skill and chance" regardless of the relative measure of skill and chance, the argument will fail.

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