Legal US Online Casinos Will Create Large Number of Jobs

April 24, 2010 | News Category: Gaming Law

0 Comments

H2, a United Kingdom market analysis firm, has found that a rather large number of jobs could be created if the United States were to legalize online gambling. In fact, the number that has been estimated would mean employment for tens of thousands of people. The study has estimated that the number of jobs that would be created could be as much as 32,000.

Not only does H2 estimate the large number of new jobs, they also estimate that nearly $100 billion of new economic activity would take place over five years, and that almost $60 billion of money in the form of tax revenues would be generated in the same amount of time.

The director of H2, Simon Holliday has explained that lawmakers in the United States are currently spending billions on trying to ban online gambling, when they could be legalizing online gambling, and making billions. Not only would legalizing online gambling bring in large amounts of tax revenue, but it would also protect consumers. US consumers who partake in online gambling are open to those negative elements that can be found in an unregulated gambling industry.

While many online casinos are legitimate and trustworthy, there are those that are not so trustworthy, and might refuse to pay out winnings, and misuse personal information supplied by their patrons.

In a statement that accompanied the market analysis report, Simon Holliday, noted: “This study should provide further incentive for the Obama administration and Congress to act quickly to regulate Internet gambling.”

Legalizing online gambling in the United States is certainly a hot topic at the moment. As the deadline for the implementation of the UIGEA (Unlawful Internet Gambling Enforcement Act) is looming ahead on June 1st, legitimate online casino companies and players are concerned that there has been little progress with the online gambling bills.

The hearing for Barney Frank’s online gambling bill was once again pushed to a later date because of Frank’s scheduling conflicts, although Frank has promised that he will soon push forward his proposed online gambling bills. One of these bills proposed to suspend the UIGEA, while the other discusses regulating and legalizing online gambling in the United States.

Frank is not the only one to be pushing the legalization of online gambling. There has been much bipartisan support for the idea, as well as bills suggesting that online gambling taxes should be used to pay for those in foster care and those that have been through the foster care system, as well as a few other causes.