$42 Billion from Regulated Online Gambling
October 29, 2009 (CAP Newswire) – Coming at a time when the debate over whether or not the legalize (and regulate, and tax) online gambling in the United States has reached a critical point, a non-for-profit, independent group has released a statement announcing that the government stands to make tens of billions of dollars in tax revenue from the enterprise.
The United States’ most influential financial publication, the Wall Street Journal, quoting from the Dow Jones newswire, has published a report stating that the measures in the U.S. Congress “decriminalizing many forms of Internet gambling would raise nearly $42 billion for the U.S. Treasury over the next decade”.
The analysis comes from the Joint Committee on Taxation, a group that stands independently from any online casino advocacy group. The report states that legalizing online gambling “would generate $41.8 billion over 10 years.”
If that doesn’t motivate skeptical U.S. lawmakers, it’s hard to imagine what would.