US Market Still Fueling Online Gambling

Published on: January 21, 2009 

If you look at the figures, then you know that the UIGEA ruling that was passed in 2006 hasn't really done squat to curtail American citizens from enjoying and participating in online gambling.  The American government can talk all they want about how well the UIGEA is working, but in reality the truth is the exact opposite.  According to the revenue figures being reported by the online casino industry, online casinos and gambling in the United States is still the driving force behind this multi-billion dollar industry.

In late 2007, PricewaterhouseCoopers conducted a comprehensive study showing exactly how much money the online casino industry expected to generate over the next ten years.  The results of the study were frankly staggering, showing that the online casino industry was going to continue to grow and not fall backwards as some analysts have predicted.  What was interesting about the study was that the UIGEA was enacted in late 2006.  Technically there should have been no online casino activity in the United States from that time to the time the PricewaterhouseCoopers study was done.  Surprisingly enough, even with a ban in place, the United States remained a driving force in the industry.

The report predicted that the United States could profit up to $17.6 billion over the next ten years if online gambling was regulated, something government officials such as Barney Frank took note of.  Frank has been lobbying since the UIGEA was passed to have it overturned, and the $17.6 billion in revenue is a big reason to do it.  With the economy suffering the worst recession in decades, this money could be very handy and useful to the American government and American citizens all around.

The study also covered sport gambling, a very controversial subject when it comes to any form of gambling in the United States in the first place.  According to the final report, the revenue figure the United States could earn would jump to $42.8 billion if sports leagues and teams joined the regulation process and added gambling on their sports to the online gambling industry.  Additionally, the company is estimating that the American public is losing $2.5 billion a year betting on sports because they are required to use illegal bookmakers or online websites where their money goes overseas.  Regulating sports betting will keep the money in the United States.

With the new presidential administration being sworn into office on January 20, 2009, it has been recommended that the PricewaterhouseCoopers study be looked at thoroughly and analyzed carefully before any internet gambling laws are passed in the United States.

For a listing of the top U.S. online casinos click here.

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