America Could Tax $52 Billion from Online Gambling
A study has recently been done by PricewaterhouseCoopers into the online gambling industry. It has shown that if the U.S Government did decide to regulate and tax the online gambling industry, they would receive an extraordinary $52 billion in revenue over the next ten years. Their study also found that if the U.S Government would benefit greatly if the Unlawful Internet Gambling Enforcement Act (UIEGA) of 2006 is overturned.
One of the most notable facts of this investigation is that a study that was almost identical to this one in was done in 2007 by PricewaterhouseCoopers. This study was used as a supporting argument for a proposed measure called the Internet Gambling Regulation and Tax Enforcement Act of 2008. In this study they found that revenue in the next ten years in online gambling could be taxed for just $42.8 billion in comparison of $52 billion in the latest study.
This effectively means that since the UIEGA has been in place and they have been restricting American citizens from gambling online that the industry has in fact grown. With all of the restrictions currently in place and the fact that not all fifty states in America can legally gamble online, it is not hard to see the enormous amount of revenue to be made from the Government. When/if they decide to open up the industry to regulate and tax it the U.S Government stands to profit greatly at the same time as allowing American citizens their freedom to make their own decisions. Only time will tell if this happens, but it will be one of the best things to happen to the industry in quite a while if it all goes ahead.
