To Tax or Not to Tax

12/07/2011
By Pamela PattersonGoogle

Will the pressure placed by gaming lobbyists on Washington lawmakers finally pay off and will plans for pro-online-gambling legislature ever come into fruition?  Though government action taken as recently as this past spring still represented a strong anti-online-gambling sentiment in congress, the current economic situation may be enough to open the hearts of legislators to the online gaming cause and its taxation benefits.

 

Many involved in the debates point out the absurdity created since Black Friday, the day the US Department of Justice shut down three major online poker sites.  While American citizens keep gambling, the six billion dollars of revenue that they produce go overseas without ever being taxed or regulated.  While the American economy is not in great shape, the idea of giving up on hundreds of millions of dollars in tax revenue seams absurd.  Furthermore, a billion dollar industry in the US would create jobs which would both help the economy and increase income tax revenues. 

 

While American citizens continue playing online games with no regulation or consumer protection, too many congressmen sit by idly, uninterested in internet gambling.  Most are unaware of the dangers of offshore gambling and unaware of the potential benefits of a local industry.  Some claim that the even those congressmen who do bring gambling bills to the floor aren’t knowledgeable enough on the subject.

 

The question now is will current legislation ever make it through the bipartisan labyrinth or will it get buried like previous years in the graveyard of bills-that-could-have-been.  Time will tell if Black Friday was a sign of what’s to come, or if a new chapter is in store for online gambling in America.

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