Learn about our up-to-date news headline titled Tax Revenues From Online Casino Industry
Tax Revenues From Online Casino Industry
Although many people in the US may think that the recently legislated Unlawful Internet Gambling Enforcement will hurt only online casino sites, that is not really the case. In fact, the bill will cost all the American citizens much more than they had expected. After all, a 12 billion dollar industry is a gigantic source of income for the government when it comes to tax income, but after the bill will come into effect, most of the online casino sites will no longer exist, or simply go underground – leaving the state with no tax revenue either way.
When looking at the UK government's resolution to legalize the online casino industry in the country, it's easy to imagine that tax revenues played a major role in that decision. Britain is offering online casino companies much better conditions than in other countries, hoping that those companies will decide to relocate from off shore locations to the UK. The tax revenues, although may not be instant, will be huge, certainly aiding the country's economy, while keeping the online casino industry alive.
The UK's plan is expected to begin this year, with the government giving licenses to online casino sites all around the country. According to analysts and experts, several companies from Gibraltar and the Caribbean are expected to leave for the UK in the near future, expanding even more the local online casino industry. The US, right now, is left far behind, losing not only millions of online gamblers but also millions of dollars in possible tax revenues.
Related News:
Although many people in the US may think that the recently legislated Unlawful Internet Gambling Enforcement will hurt only online casino sites, that is not really the case. In fact, the bill will cost all the American citizens much more than they had expected. After all, a 12 billion dollar industry is a gigantic source of income for the government when it comes to tax income, but after the bill will come into effect, most of the online casino sites will no longer exist, or simply go underground – leaving the state with no tax revenue either way.
When looking at the UK government's resolution to legalize the online casino industry in the country, it's easy to imagine that tax revenues played a major role in that decision. Britain is offering online casino companies much better conditions than in other countries, hoping that those companies will decide to relocate from off shore locations to the UK. The tax revenues, although may not be instant, will be huge, certainly aiding the country's economy, while keeping the online casino industry alive.
The UK's plan is expected to begin this year, with the government giving licenses to online casino sites all around the country. According to analysts and experts, several companies from Gibraltar and the Caribbean are expected to leave for the UK in the near future, expanding even more the local online casino industry. The US, right now, is left far behind, losing not only millions of online gamblers but also millions of dollars in possible tax revenues.
Related News:
| 16 Jan 2005 | $32.281.00 MPBingo Winner |
| 13 Aug 2004 | Maryland Company Launches New Board Game |
| 25 Sep 2005 | Common Mistakes in Online Poker |
| 16 Dec 2004 | Small Town Poker Tour, Announces European Tour 2005 |
About Us | Terms & Conditions | Security & Privacy | Responsible Gambling | Casino Previews | Winners | Casino News
Casino Directory | Other Resources | Site Map
Casino Directory | Other Resources | Site Map
 |  |  |  |  |  |  |  |  |
Copyrights © 2006 Magic Box Online Casino