The US Misses out on yet Another Online Gambling Opportunity

Submitted by Evan on Mon, 2010-03-29 at 18:22

A gaming and hospitality management company has plans to introduce another online casino to the online gambling industry. The casino will, however, exclude US citizens for now because they observe and respect the Secure Internet Gambling Initiative. It is only a matter of time before the US makes the decision to no longer miss out on the opportunities that come from the significant revenue.

Currently, online casino players from the US must look to offshore casino operators in order to participate in the activity that is growing rapidly in popularity. Because of the online gambling ban in the US and the fact that US citizens are continuing to visit online casinos, the US government is missing out on the taxes garnered from the industry, as well as the jobs that come out of the industry’s success. In addition to that, the US government is losing out on millions of dollars every month that can fund programs that will benefit individual states.

State representatives are beginning to see the potential in the online gambling market and have developed the Gambling Regulation and Tax Enforcement Act of 2010 which outlines how much money each state can expect and where the money should be allotted. This way, the revenue wouldn’t just be a free-for-all between states. There would be a plan in effect with very specific objectives.