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U.S. JOINT COMMITTEE ON TAXATION CONFIRMS POTENTIAL OF LEGAL ONLINE GAMBLING

10/29/09 - Decriminalising many forms of Internet gambling in the United States would raise nearly $42 billion for the U.S. Treasury over the next decade, according to an analysis conducted by a non-partisan congressional scorekeeper, the Joint Committee on Taxation.
 
The Wall Street Journal reports that after reviewing legislation aimed at lifting online gambling bans and the UIGEA, the Committee concluded such a move would generate $41.8 billion over 10 years.

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The legislation, championed by House Financial Services  chairman Congressman Barney Franks and sponsored so far by 62 Representatives, would guarantee individual state rights to support federal regulation and taxation of Internet gambling or not, and maintain bans on sports betting, but would liberalise other forms of online gambling.
 
In the Senate, similar legislation has been introduced, the WSJ reports.
 
"The effort to lift the ban imposed by the Republican-controlled Congress in late 2006 has become a popular cause for some Democratic lawmakers who believe the law imposed unjust restrictions on individual rights," the newspaper claims.
 
"Others say that by keeping the [UIGEA] ban in place, potential sources of revenue to fund needed government programs are being wasted."
 
Rep. Jim McDermott - a Democrat from Washington who has authored a complementary tax bill for Frank's proposal - said: "I'm always looking for money to deal with some of the problems I see out there. This looked like a good place to find some revenue."
 
He said the House Democratic leadership hadn't indicated whether it would support the legislation, but the savings estimate would certainly get the party leaders' attention.
 
In the Senate, Oregon senator Ron Wyden withdrew a proposal earlier this year to legalise online gambling and use the tax revenue to help finance the controversial overhaul of federal healthcare legislation. At the time there was speculation that he had succumbed to political pressure, but the WSJ uses the issue as an illustration of the increasing awareness among politicians of the useful revenues that could be claimed through a tax on legalised online gambling.

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The JCT estimate is based on a small fee that would be levied on all deposits U.S. residents make with online gambling companies.
 
The Safe and Secure Internet Gambling Initiative, a group lobbying for the ban to be lifted, said that Americans gamble around $100 billion online annually.
 
"With the completed analysis and support for Internet gambling regulation growing daily, it's only a matter of time before Congress acts and begins allocating the billions in new revenue sitting on the table to one program or another," Michael Waxman, a spokesman for the group said.



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NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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