US Online Poker – Still a Taxing Problem

This is a billion dollar industry – at least it was – until the DoJ shut down sites to US players such as PokerStars, and FullTilt amongst others, on the 15th April 2011.

This is the day that online poker operators and players have come to know as Black Friday. Before Black Friday, it was estimated that $6 billion went out of the US, into the coffers of offshore poker and other gambling sites. Of this $6B – if the industry recognized as being legal – the Government could have ostensibly had an additional $250 million in their tax coffers. Now it is just pie in the sky!

The law-makers pushing to have this industry made legal in the USA, know what potential it has in terms of revenue generation. Both US State and Federal Governments are cash-strapped to the hilt and need to find ways and means to get more money banked.

However, according to political analysts, almost no-one in any powerful Congressional position gives a fig about internet gambling. Which also means that when the bills take the floor, no careful study has been done (except by the bill’s proposers- often not even then) and decisions made are not as a result of any reasoned conclusions. This is in essence what took place when UIGEA was promulgated.

There are a few rabid gambling opponents, but they all appear to be hypocritical or just plain stupid, and this does not get them a great deal of support. But there are members of Congress in the Republican Party and the far right who will oppose anything and everything that might make President Barack Obama look good. Time will only tell on this one folks so be sure and stay tuned.

casinoscamreport.com