| Blog Entry
of the Month:
UIGEA Goes into Effect, But Who Really Cares?
You know when you start finding
articles on the Dow Jones newswire about regulating
online gambling, well then, you know people are talking.
And not that everyone is going to be won over by the
prospects of regulating and taxing online gambling, or
just even online poker (which is the Big Daddy), but you
have to admit that doing so would undoubtedly help
generate billions in tax revenue. The argument against
it is that all of this money going toward online
gambling (it's estimated that American's spent $100
billion last year gambling online), could be going
toward projects that need serious funding, such as
health care. Yet, what these folks don't see is that
American's are going to gambling online anyways - even
with a ban in place. Heck, they've been doing it for the
last four years. And even though the UIGEA is
technically supposed to go into effect on December 1,
2009, the banks, which have been tasked with policing
online gambling transactions, say it is a nigh
impossible task. In the meantime, the Safe and Secure
Internet Gambling is increasing its lobbying efforts to
educate members of Congress about the feasibility and
benefits of regulating online gambling, while even the
Joint Committee on Taxation has declared that regulating
online poker, alone, would generate over $42 billion in
tax revenue over ten years. And with further media
coverage by the likes of the leading financial resources
like the Dow Jones newswire, you can bet the real truth
about online gambling regulation is finally starting to
get out.
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