Legal Casinos and What They Could Mean in the USEverywhere, online casinos are thriving, even in the United States where current regulations attempt to strangle them out of existence. The potential of legalized gambling in the Americas is so great that many organizations, including the Department of Justice are beginning to recognize it. With such potential, it doesnt make sense that so much currently stands in the way of legal casinos operating in the US.
Currently, many forms of online gambling are either out right prohibited or greatly hindered by current US legislation. The Wire Wager Act, which was written long before the Internet made communication what it is today, prohibits anyone from using wired communications to make bets on sporting events. The more current Unlawful Internet Gambling Enforcement Act extends prohibitions on certain elements of gambling by banning banks and credit unions from transferring money to any gambling institution online.
The Potential Gains
Despite the current legislation on the books, the United States houses the highest number of gamblers in the world, even as their activity is largely restricted. Other countries like Antigua and Barbados struggle to keep abreast of US legislation and the simultaneous demand of American gamblers. According to the US Department of Justice, the online gambling industry surpassed $10 billion dollars in 2005 and looks only to grow from there. Thats billions of dollars that the US government is overlooking every year, even as its own economy struggles. If tax revenues were even a tiny part of that industry, the gains would far outweigh any losses.
Legal casinos in the United States could mean great things for the countrys economy and its citizens enjoyment. Why the practice is still illegal in many of its forms is baffling, and should be rectified as soon as possible.
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