Could the US Government use $52 Billion

The big accounting firm PriceWaterhouseCoopers did a study of the result of taxing and regulating Internet gambling.  Their study indicates that over a ten-year period the income from taxing and regulating Internet gambling could be $51.9 Billion.  This study echoes a similar study done one year before.

This new study has added ammunition to Barney Frank's bill that he introduced, in HR2046, The Internet Gambling and Enforcement Act.  This bill would handle licensing and regulation of the Internet gambling industry in the United States.  The licensing and regulations would be scrupulously enforced and would make online gaming toe the line like they do in Europe.  Congressman Franks plans to reintroduce the bill in March of this year.

The UIGEA law has severely crippled this industry in the US and forced all online casinos to operate outside the country and in many cases the operations have very lax oversight.  [Read][more...]