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In a study just released by PricewaterhouseCoopers, the world’s largest professional services firm, says that over the next 10 years, the United States Government could take in more than $50 billion in tax revenue just by legalizing online gambling.
In this time on global recession, many U.S. economists are finding it very difficult to ignore the importance of the legalization and regulation of Internet gambling.
“There’s still a lot of gambling going on, where there’s no revenue coming in to the governments,” said Gavin Kelleher, an analyst at the research firm H2 Gambling Capital in Ireland. “They realize they could use the revenue.”
In the States, the movement to lift the ban on Internet Gambling is spearheaded by House Financial Services Committee Chairman Barney Frank. The chairman is expected to introduce legislation to overturn the Unlawful Internet Gambling Enforcement Act.
“He supports the repeal and wants to move forward on it,” said Steve Adamske, Frank’s communications director.
Opponents of a repeal seem to be stuck in their puritan beliefs. Organizations like the Christian Coalition of America and the National Football League, have vowed to fight any effort to end the ban. Apparently to them, only some gambling is harmful.
“We’re not saying people shouldn’t go to Las Vegas,” says Michele Combs, a spokeswoman for the Christian Coalition. “But when it’s in your home, it’s too easy. It breaks up families.”
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