Thursday, October 12, 2006

Online Gambling A Sure Bet to Change

While the Republican-led Congress just passed a law strengthening the ban on online gambling, the fortunes of people who like to wager is likely to change soon. The simple reason: the majority of people want it legalized, and more importantly, it is big money for marketers and the states.

Today it is simple to start playing poker or betting on sports online, and virtually no one has been prosecuted for placing bets online. It is a multi-billion dollar industry that today isn't being taxed, with most of the money heading to the U.K. and the south Atlantic islands.

The revenue potential of legalized online gambling and all of the marketing dollars surrounding could challenge alcohol as the top money making vice. While the casinos (both tribal and those in Las Vegas and Atlantic City) have had powerful lobbies to buy Congress' support (see Abramoff, Jack), and the religious right has decried gambling of the non-bingo or horse racing type as sinful, public opinion and marketing dollars can be stronger.

While I personally don't care much for gambling, we could certainly use the tax revenue, the business opportunity opportunity should not stay offshore. Like it or not, gambling is what the people want, and they tend win out.

Posted By Jason Dowdell at 12:27 PM
Permanent Link: Online Gambling A Sure Bet to Change | Comments (0)

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