| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Government Reponses to Online Gambling
- Friday, 28 Apr 2006
Did you know that online gambling has become a billion dollar per annum industry? This is a lot of money from one industry and many organizations (and countries) are making a great deal of profit from online gambling. The benefits of gambling to a country are enormous. Just consider of all those taxes that can be generated from running an online casino and from taxing individual winners. The numbers are quite staggering if you think about it.
The world’s countries seem to be divided on the issue of regulating and allowing online casinos. Some countries are quite willing to take the chance on allowing online gambling to operate within their borders. These countries, such as England, will ultimately benefit from online gambling in the form of employment opportunities, millions of dollars in tax and a regulated industry. On the other side of the spectrum, you have countries that have a love-hate relationship with gambling and simply cannot make up their minds about the issue. The United States, for example, is yet to make a final decision about online gambling, something that is confusing and frustrating to many gamblers.
Countries who ignore the fact that online gambling is the biggest growing industry of the future risk missing the boat. Prohibition laws never work. If people want to gamble, they will do so and if they cannot gamble in their own country, they will take their gambling habits some place else. Countries who do not recognize and legalize online wagering are the only ones missing out.
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