When will the U.S. Government Regulate Online Gambling?
If you are reading this blog chances are you are part of the group that is in favor of the federal government legalizing, regulating and taxing online gambling. Many Big-name casinos are also part of this group.
Not part of this group: Christian groups such as Focus on the Family, who feel that it would basically be a federal stamp of approval on internet gambling and therefore lead to disastrous consequences.
The article I read on http://www.nytimes.com/ highlighted many points surrounding this debate.
According to the Congressional Committee on Taxation it is estimated that legal online gambling, over the course of ten years, could generate as much as $42 billion in tax revenue. That is a lot of money they are hypothetically just throwing away.
One online poker player, Bradley Cole pronounces that “It’s the only industry on earth that is clamoring for the U.S. government to impose regulations.” He, of course is one of the many who had money invested in Full Tilt when it went down. Reading Online Casino Reviews in one thing, but some players don’t want to take any chances.
Companies such as PokerFive Poker Refugees go to great lengths to ensure that professional online poker players can continue playing without fear of another “Black Friday” such companies set up bank accounts as well as living arrangements to live in places like Canada or Costa Rica.
The District of Columbia became the first jurisdiction to legalize internet gambling earlier this year. This is just the start, according to this article many bills are working their way through the House of Representatives.
A lot has changed too. In the past the casino industry has been actively against online gambling, but now they are 100% behind the idea. Many are counting on either forming their own site, or teaming up with existing ones.
Posted: October 11th, 2011 under Online Casinos, Uncategorized.
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