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US could raise $52 billion with online gambling tax

US legislators considering Congressman Barney Frank's renewed assault on the Unlawful Internet Gambling Enforcement Act may be given pause for thought by a new analysis of the potential taxability of online gambling in the United States just published by top international accounting group PricewaterhouseCoopers. 

Go CasinoThe study estimates that the US could raise nearly $52 billion in revenue over the next decade by lifting a three-year-old ban on Internet gambling and taxing the activity instead, reports the Reuters news agency.
 
"There is a dramatic need to have a regulated system that protects American consumers. Right now, it's the Wild West," Jeffrey Sandman, a spokesman for the Safe and Secure Internet Gambling Initiative, told Reuters on Wednesday.
 
The latest PricewaterhouseCoopers' estimate is about 22 percent higher than it was in 2007 because U.S. online gambling has grown despite the ban, Sandman said.
 
The accounting firm's study was specifically done at the behest of UC Group, an online payment service company that would benefit from U.S. action to legalise Internet gambling.
 
Online gambling advocates hope the U.S. government's need for new revenue in the aftermath of huge bailout and stimulus packages will boost chances for Congress to replace the UIGEA with new measures to regulate and tax online gambling.
 
Reuters reports that the added threat of a possible European Union trade challenge in the World Trade Organisation could improve the Frank bill's prospects this year; the Remote Gaming Association in the UK has complained to the European Commission, accusing the U.S. Justice Department of singling out European online gambling companies like PartyGaming and 888.com for prosecution while allowing U.S. companies to operate freely . The complaint triggered an investigation, the results of which are imminent.

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Gambling News :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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