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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.



Gambling News :

MLB Odds: Stroman Gets the Nod Against Royals - The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.

Microgaming in bingo software deal with Marathonbet - Marathonbet’s loyal customers will now be able to enjoy an extensive Bingo offering – marking another big expansion of its online gaming collection.

Microgaming QuickFire enters Coloumbia - Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.

Partypoker to sponsor WSOPC Uruguay - Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.

MLB Odds: Jays Hope to Spoil Orioles’ Visit - The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.

Money Storm Casino - Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.

Big Online SLot Win on Ultimate 10X Slot - At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000

MPN Greatest Poker Player in the Universe - The MPN announces the third annual Universal Championship of Poker (UCOP III), boasting €750,000 guaranteed across 59 tournament events this September

PartyPoker Exits Australia - From 31st August 2017 partypoker players will no longer be able to play from Australia. Players’ deposited funds are safe and available for withdrawal.

Mercury Poker Live on Indian Poker Network - Mercury Poker Live on MPN's Indian Poker Network. MPN India, established in 2015, is a ring-fenced poker network dedicated to the Indian market and operating exclusively in Indian Rupees.

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