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Online Gambling Regulations Could Cut US Unemployment Rate
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A recent report in a Washington DC publication revealed that a British research and consultancy firm H2 Gambling Capital has conducted a study that could be very useful to the pro-legislation lobby. H2 Gambling Capital is well known as being a leader in the field with regard to collecting and analyzing data for the global gambling industry.
According to the report the study found that if online gambling were to be legalized in the USA it could create at least 32 000 new jobs and $57.5 billion in new tax revenue over a five year period. This could lead to approximately $94 billion in new economic activity.
Representative Barney Frank is very much aware of the social advantages that regulated online gambling could have in the US. At present with companies not being able to acquire licenses in the US and players being forced to go to unregulated sites in order to gamble, offshore companies are at the moment dominating the US online gambling market.
Representative Barney Frank introduced legislation to regulate Internet gambling in the US and the House Financial Committee was planning on discussing this legislation last week. However, the hearing was postponed to a later date due to a diary reschedule.
Rep. Frank is intending to bring experts in during the legislative discussions in order to confirm what a strong effect internet gaming revenue could have on the country as it is felt that the US government could stand to make billions of dollars if they were to regulate online gambling.
