- Key Issues
- News Center
- About Us
- Contact Us
Each year, millions of Americans ignore attempts by the government to prohibit Internet gambling and wager more than $100 billion with offshore gambling operators. A 2009 Joint Committee on Taxation analysis found that the U.S. could receive up to $42 billion in federal revenue over the next decade if Internet gambling is regulated as previously proposed in legislation introduced by Representative Jim McDermott (D-WA).
In a struggling economic environment, regulated Internet gambling could generate tens of billions in new revenue for federal and state governments to fund key economic and social programs. As proposed in previously introduced legislation, the new revenue stream would primarily be generated through the collection of applicable corporate and individual taxes, which are currently owed but not collected, taxes consistent with those collected from the land-based casino industry, and from the collection of a fee on deposits payable by the operators.