The possibility of securing the entire Antigua is slim W.T.O. claims $3.4 billion in compensation in dispute

Antigua & Barbuda, which has sought $3.4 billion in reparations from the U.S. after winning a WTO dispute over internet gambling, will likely have to agree for much less, said John Jackson, an international economics expert and professor at Georgetown University Law Center.

The U.S. lost its dispute with Antigua because the WTO ruled that it would allow domestic interstate internet gambling on horse racing, but ban foreign competition for the betting. Shortly after losing its final appeal, the U.S. Trade Representative announced that it was a mistake to include internet gambling commitments in the General Agreement on Service Trade (GATS), and that it would withdraw those commitments.

“The U.S. may withdraw its entire sports commitments, but then rewards will be more than necessary,” Jackson said at a policy forum hosted by the Cato Institute on Wednesday. “What is more likely will be a departure from sports commitments that are only about horse racing gambling.”

Jackson speculated that by withdrawing his horse racing commitments, the U.S. would abide by WTO rulings without being evaluated as to how Antigua is affected by the overall ban on foreign internet gambling providers.

“Obviously, the reward only has to deal with the horse racing issue,” Jackson said.

Antigua’s attorney, Mark Mendel, disagreed with Jackson’s evaluation, saying the ruling goes beyond internet betting on horse racing. 파워볼실시간

“This isn’t about horse racing,” Mendel said. “It’s one of the craziest things about the USTR. They did a great job spinning this around as if it was a horse racing problem. This isn’t about horse racing, it’s about remote gaming.”

One audience member questioned how Antigua reached $3.4 billion, saying the amount is three or four times the country’s annual GDP.

Mendel said economists had identified Antigua’s economic damage, but did not say how it reached $3.4 billion.

“Unusually, if you look at the two or three-year period in which some of these companies went public, they created tremendous value in a very short period of time,” Mendel said. “A number like $3.4 billion might sound the opposite of reason, but we have a sound rationale for that, and I’m looking forward to justifying it.”

Mendel noted that at the height of the industry, about 100 operators employed more than 3,000 Antiguans, or about 10% of the workforce. Since UIGEA went into effect, that number has dropped to about 30 operators and 1,000 jobs.

“Antigua people especially enjoyed the industry because it offered all kinds of high-tech jobs to people,” Mendel said.

Leave a Reply

Your email address will not be published. Required fields are marked *