Online Gambling Worth $52 Billion to U.S. Govt.New Report Says Regulated and Legal Online Gambling Who Give Fiscal Boost |
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A new PriceWaterhouseCoopers report estimates the U.S. government could raise up to $52 billion in revenue over the next 10 years by rescinding the Unlawful Internet Gambling and Enforcement Act and taxing and regulating the online gambling industry including online poker.
The report also estimates that the online gambling sector has continued to grow despite the UIGEA and says the government could raise 22 percent more than it could have based on last estimates in 2007.
Jeffrey Sandman of the Safe and Secure Internet Gambling Initiative said, "There is a dramatic need to have a regulated system that protects American consumers. Right now, it's the Wild West."
A number of developments in recent months seem to have augered well for a reexamination of the current negative environment for online gambling and poker companies including a series of legal rulings in various states in the U.S., the Democrats assuming control of both houses in the legislature, and PartyPoker founder Anurag Dikshit’s $300 million settlement with the Department of Justice.
Recent reports suggest Congressman Barney Frank, a long time advocate of regulation, is about to reintroduce a bill into aiming to legitimise the sector.
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