| | |  | Last Updated: Wednesday, February 27, 2008 |  | | | Online gambling story on CBS
- Monday, 21 Nov 2005
So many Americans use their computers to gamble on overseas websites that if those virtual casinos were to be regulated and taxed by American authorities, tax revenues would be in the billions of dollars. But the federal government says internet gambling is 100 percent illegal, and people who want to keep it that way believe that the sites can never really be effectively regulated.
The CBS Television Network was to examine this contentious issue in a 60 MINUTES report to be broadcast Sunday, November 20. In Britain, where many online gambling firms are based, a gaming executive says America's treasury is missing out. U.S. authorities have never prosecuted individual bettors and don't plan to start. The U.S.'s own domestic gambling industry, which long opposed legalizing online gambling, has begun to shift its position.
"We calculated that were America to have regulated the online gambling industry in 2004, the American states would have earned $1.2 billion in tax," says Nigel Payne, who runs the London-based Sportingbet, one of the biggest online gambling companies. | |
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