International online gambling revenues grossed over $10 billion last year.

Over $8 billion came from punters in the US.
Since online gambling is essentially illegal in America, the debate over its legalization is set to intensify, following the release of last year's statistics.
It goes to show, that current national laws go largely unchecked.
Even major American corporations are investing millions of dollars in the online gambling industry, through the London Stock Exchange.
While some, such as Arizona's Sen. Jon Kyl, is aggressively anti-internet betting parlors, the pro-online wagering body is equally vocal and strong.
Of course most of the Las Vegas casino companies have a lot to gain by the legalization of online betting, and are therefore supporting it full force. They stand not only to expand their businesses to the online world, but also tap their famous brands and databases globally.
Nonetheless, they also have a lot to lose. With legalization of online gambling, many casinos could lose their patronage of the clients to their brick and mortar casinos.
Although gambling will always be surrounded by shady characters, it is, however, a business that can be regulated.
In fact, online casino operators are petitioning Congress to regulate and tax their establishments.
It is clear that online gambling is no fad. With ever increasing revenues each year, it is safe to assume internet gaming is an established industry.
Indeed, on average, more time is being spent online gambling, than downloading music or porn.
There are many persons involved in the public debate for and against online gambling.
Many of the big companies already in the gaming world are pulling their public weight to legalize internet gambling.
These include companies such as PartyGaming, SportingBet, MGM Mirage and Harrah's Entertainment.
With predictions that internet gambling will be a regulated industry by 2007 will force US law makers to re-think their morality stand.
Indeed, until now, the morality issue has been the major block to legalization.
With the possibility of a new source of additionally tax revenues, supporters are encouraging the government to regulate and tax this industry just as they have land-based casinos, alcohol, cigarettes and porn.

Back to Lastest Gambling News
Back to Gambling News Archive
Back to Gambling News - January 2006 Archive