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Progress in the US for Online Gambling

Encouraging signs are cropping up that point to the possible legalization of online poker and casino sites within the next year or two, including several key politicians and businessmen getting on board with legalization efforts.

With some states considering their own online casino and poker laws, the federal government is coming under increased pressure to move first by passing new legislation that would legalize and tax various forms of online gambling.

Recent developments have led some analysts to predict that legal online poker may be a reality before the end of 2011, with online casinos following not long after.

Online casinos with games such as slots and blackjack are a tougher sell than poker — as poker is widely recognized as a game of skill — to politicians worried about conservative bases but the lure of increased tax dollars may be too hard to ignore; some studies project that legalizing online gambling in the US could produce as much as $40 billion in taxes over the next ten years.

Much of the new momentum behind legalizing online gambling in the US comes from two former foes, with Republican Jon Kyl (once a staunch opponent of online gambling) now supporting the push for legalization, and Las Vegas Sands CEO Sheldon Adelson has also announced that he supports legalization as well.

Large US casinos have opposed online gambling for years but many are now shifting their stance, persuaded in part by arguments that online gambling could complement their existing revenues and wouldn’t necessarily cannibalize them.

House Speaker John Boehner is also rumored to be in support of legal online gambling, adding yet another potentially powerful ally for those working to change US laws to allow for legal and regulated online casinos and poker rooms.

Categories: Casino, Gambling News
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