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According to H2 Gambling Capital, a Manchester, U.K.-based market analysis firm for the gambling industry, there are a lot of positives to be considered when lawmakers decide on Internet gambling legislation.
Pro-gaming lobbyists are citing a new study done by the firm that shows legalizing online gambling could create tens of thousands of new jobs over a five year period.
The firm estimates that the Internet gambling industry could create approximately 32,000 new jobs, more than $57 million in new tax revenue and may lead to $94 billion in new economic activity.
“This study should provide further incentive for the Obama administration and Congress to act quickly to regulate Internet gambling,” said Simon Holliday, a director at H2.
Holliday also believes that by keeping online gambling illegal, the U.S. government is losing billions of dollars. Not to mention the thousands of U.S. players left in an unregulated offshore playing world where that have no protection against fraud.
Rep. Barney Frank, the chairman of the House Financial Services Committee, has sponsored legislation that would legalize, regulate and tax online gambling in the U.S., however with all of the nation’s other problems monopolizing Congress, his gambling bill has take a back seat.
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