Lifting U.S. gambling ban could raise $42 billion

[The Buzz]

The movement to lift the online gambling ban in the United States has hit a little bit of a snag lately, but that hasn't stopped news stories from coming out about the issue.

The Wall Street Journal reported that the Joint Committee on Taxation said lifting the ban could generate $41.8 billion in revenue over 10 years.

From the WSJ:

The legislation would allow Internet poker, but continue a ban on other forms of gambling, including betting on professional sports.

House Financial Services Chairman Barney Frank (D., Mass.) has championed the idea, and has said he hopes his committee will formally consider the bill soon.

To date, around 60 House lawmakers have signed on to support it.

[Smoky89]

That is a lot of money 41 billions ... but i believe that is for real... or even much more..

[Betpartners]

Instead they will relax gun control and make even more money

[AmCan]

This shows revenues for the 20 largest casino locations in the US about $27 billion in gambling take for 2008. believe gaming taxes ranger from near 10% in nevada to close to 20% in detroit, but that's based on what i can recall. so i guess the tax estimate would be based on a $25-30 Billion annual poker rake

http://www.americangaming.org/Indust...etail.cfv?id=4

[Anthony]

Now that the U.S, needs the money, "if you can't stop it - tax it" makes sense to them.

[bonusbeast]

I wish this issue was getting more attention, you just don't hear much about it. If the US would lift this ban, this would be awesome news for us affiliates.