Online casino industry observers estimate that more than fifteen million Americans gamble in online casino. Online gamblers generate up to $25 billion in annual tax revenues for the sites. Some US government officials, opposed with higher demands for revenue from the proposed health care initiative and two – wars, try to use the profits generated from taxes on online gambling to fill in these gaps.
A couple of weeks ago, many professional online casino players faced the harsh reality thinking that they may have been unemployed for the coming 2011. Luckily for them, they would still be able to resume on their usual jobs in an unregulated industry thanks to the republican lawmakers.
Only yesterday, online poker in the US received an enormous boost yesterday, after lawmakers overwhelmingly voted in favor of the bill applied to regulate gambling. The bill was debated for several hours and got 14 amendments before the House Financial Services Committee finally approved the legislation by a margin of 41 for to 22 against.
One of the amendments which contributed to the swing of vote in favor of online casino gambling was the exclusion of sites which are presently mocking internet gambling laws from ever being granted business licenses in the future. Another amendment requires online players to be older and not younger than 21 years of age, as is the case with land based casinos and not receiving child support payments. There are also measures to impede online gambling sites from advertising to minors and problem gamblers would not be put in place, and deposits through credit cards are not allowed. As for the final amendment, all sites licensed by US would be located ad stay within the country's vicinity.
Therefore, to analyze it all, gambling bill has just been slept for some time but is now alive and kicking. The approval of the bill is being hailed as a minor victory for the human rights of online gamblers. Players would also be excited by the prospect of thousands of US players entering the market in the coming year, 2011, bringing a flood of money to them.
In reality, however, the lawmakers themselves will be more concerned with finding a way to regulate and tax the industry in order to bring relief to cash – strapped state budgets up and down the country.
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