Internet Gambling: Let’s Get it Done (Tax Revenues Will Help State Budgets)

I was surfing around the net, looking to see what you might find interesting this week, when I found an item about online gambling on H2 Gambling Capital’s website. The group is the self described “leading” provider of data regarding the gambling industry.

I mean, what’s interesting is that this spate of information is coming out just as legislation is moving through congress to regulate and tax the online gaming industry.

Coincidence? I think not.

OK… anyway, a new study projected that thousands of jobs and billions of dollars in tax revenue would be created if legislation were passed to legalize and regulate online gambling and poker in the United States.

I’ve been saying this for years.

Granted, H2 Gambling Capital is hardly objective. Still, their study (take it or leave it)  said that about 32,000 jobs would be created over a five-year period if all forms of online gambling and poker were regulated in the United States.

The study also said that about $57.5 billion in tax revenue would be created if legislation were passed.

I believe the bit about tax revenue. Not sure about job creation.

Be that as it may, why not try it folks.

I’m gonna gamble no matter what a legislator says.

The current U.S. unemployment rate is 9.7 percent. Recent statistics from the government show that 6.5 million workers have been unemployed for more than 26 weeks.

An H2 spokesman said,  We believe the significant job and revenue creation potential provides an immediate incentive for the Obama Administration and Congress to act quickly to regulate Internet gambling.

The Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2009 (H.R. 2267), introduced by Rep. Barney Frank (D-Mass.), is currently in the House of Representatives’ Committee on Financial Services.

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