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With Americans gambling more and more at casinos that seem to be popping up all over the country, putting down wagers may become as easy as logging on to the Internet.
Representatives Barney Frank and Jim McDermott are leading a group that would push through legislation that will legalize and tax online gambling in the U.S.
The bill calls for a 6 percent tax on all deposits to be paid to state, tribal governments as well as the federal government.
The plan would be to repeal the Unlawful Internet Gambling Enforcement Act before the law goes into effect on June 1st.
“We have an activity going on illegally in this country and we’re pretending it doesn’t exist,” McDermott said.
McDermott feels Americans that gamble on the internet illegally are willing to pay taxes on their bets and the government needs the additional revenue.
The congressional Joint Committee on Taxation estimates that, over the next ten years, legalized Internet gaming could generate $30 billion for state and tribal governments and $42 billion for the federal government over the next 10 years.
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