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USA Players say YES to Internet Gambling
2/13/10 - The widely read U.S. IT publication Network World took up the legalisation of online gambling story this week, recapping on the efforts of Congressman Barney Frank to overturn the UIGEA and set up a regulatory and taxation regime for the industry in America.
Network World asked the rhetorical question "why would legalizing online gambling be a good thing?" and provides the answer: "Because the public wants it! We know this because U.S. citizens spent an estimated $8 billion last year betting online."
Author Mark Gibbs does some simple arithmetic based on a proposition that each online gambler spends a moderate $500 a year, and comes up with 16 million players or about 1 in every 4 US punters over the age of 21 years.
The author also draws attention to an online poll by US News and World Report, in which more than 91 percent of respondents answered "Yes" to the question "Should Online Gambling Be Legalized?"
Gibbs goes on to examine the standpoints of opponents and supporters of legalised online gambling before observing that despite opposition in some political quarters, there has been no suggestions in the USA that state lotteries or tribal gambling be curtailed or outlawed.
He attributes this to the big money involved, which he quotes as $28 billion annually (2008 numbers) in tribal gambling, and over $75 billion in state lotteries, of which some $18 billion flows into state coffers (again, 2008 stats).
He then compares this with the potential tax revenues from legalised online gambling, quoting a Joint Committee on Taxation estimate that Congressman Frank's proposed legislation would generate nearly $42 billion of tax revenues over the next 10 years.
The author concludes: "I'm not against gambling. I can't find any reasonable moral or ethical grounds to oppose it and, as someone once said, gambling is a tax on people who are bad at math. In fact, I find it surprising that in the land of the brave and the home of the free anyone would want to tell you what you can and can't do with your money.
"After all, if it's good enough for the states and good enough for Indian tribes, then why wouldn't it be good enough for Internet users?"
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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