May
28th

Online Casinos Could Help US Economy

The online casino industry around the world is worth billions of dollars. Although there are some countries that have regulated online gambling to a point that no casinos wish to operate from those countries, there are nevertheless those countries that thrive from the foreign income online casinos bring to their shores.

However, as per the laws passed under George W. Bush, the operating of online casinos still remains illegal in most part within the borders of the USA. There are many who believe that this is an infringement of free speech and expression, but it does not look as though the Obama administration is in any hurry to change things.

The fact remains that the online casino industry is worth over $40billion in a ten year period. This is not only a large sum of money but also money that the US government is losing. Those who live within the USA are still finding ways to perform online gambling transactions. Other countries who allow the operation of online casinos within their borders are reaping the fruit of a recovering US economy. The taxation opportunity on these billions of dollars is staggering – taxation that the US government sorely needs to fund its economy.

Time will tell if online casino laws within the USA will be loosened, but in the meanwhile, the USA’s economy continues to leak much-needed foreign exchange across the border to countries that are more tolerant to the entertainment needs of online players.

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