Deficit Debate May Help Online Gambling

January 3, 2013

It has been almost an entire year since the U.S. Justice Department took a look at the dated Wire Act of 1961. What happened was that parts of the Wire Act were re-interpreted, and the implications of the Wire Act as a gambling law to govern online gambling and online casino operators change subtly.

Since this time we have seen the states of first Nevada, and more recently New Jersey, begin to review online gambling law, and explore the options of opening up a local online casino market. However, despite the new freedom given by the re-interpreting of the Wire Act, there has been very little move towards legalised online gambling overall in the USA. This situation may change now that Congress is discussing the ever increasing Federal Deficit, and particularly that fact that Congress is suggesting alternative revenue streams are explored to help bring in additional tax funds.

Originally, a draft bill was put forward in the second half of 2012 that would help to legalise online gambling and allow online casino sites to operate across state borders in the USA. This bill has not moved forward noticeably. But discussion on this new bill is set to resume later in the month when Congress reconvenes.

A significant factor in discussions is surely to be the fact that it is expected that the local online gambling market in the USA in the first year of online casino sites becoming legal, would be expected to rise as high as almost $3 billion, and then growing to over $5 billion within the next year. This could result in as much as $90 million in extra tax revenue. This is of course, a large chunk of change, large enough to make Congress sit up and take notice, due to the positive effect this extra revenue could have on the Federal Deficit.

So we will be keeping a close eye on what happens later in the month when Congress once again discusses the option of legalising online gambling in the USA.

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