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Impact of US Not Legalizing Online Casinos

by Ed Scarpaccio
( July 26 2009 15:10:39 )
The legality of the online casinos has been under a confusing picture ever since the launch of the Unlawful Internet Gambling Act, passed on during the reign of President Bush.

The UIGEA law has caused a lot of companies to operate casinos for US players from offshore licenses.  This has eventually caused loss of revenue to the country where citizens are spending in casinos licensed overseas and the casinos are not liable for taxes since they are not registered in the US.

Several of the pro-casino lawmakers have been working hard on reversing these bills. Previously, there was a lot of hesitation when it came to legalizing casinos and the related support required for it in the ballot. However, with the declining economy, several of the states are realizing the importance of casino revenues to deal with their state bills. Therefore, they are working to support the legalization of online casinos.

The European Union and the WTO are trying to touch base with the trade commissioners in the US.  They feel that the ban of online casinos within the US will in many ways affect their traffic.  Several of the European organized casinos are being filled with American player traffic.

Several small countries, which have provided licensees for online casino companies do count on the revenues made there in as their major source of income. If the US would relax their approach towards online casinos they are likely to generate a considerable sum of revenue out of it. They can also tap in the revenues which are flowing out of the country to offshore casinos.


 


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