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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.
The 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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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