Some interesting news for gamblers and poker aficionados: Reuters is reporting that the U.S. could stand to rake in around 5 billion dollars a year by lifting the ban on internet gambling that went into effect in 2006. Citing a study by accounting firm PricewaterhouseCoopers, the report indicates that these numbers could lay the groundwork for a re-evaluation of internet gambling legislation here.
Now, before we go any further, a disclaimer: I love gambling. Love it. I especially love poker, which I play every chance I get. Before the Unlawful Internet Gambling Enforcement Act of 2006 went into effect, making it illegal for U.S. banks to do business with poker sites, I played poker online regularly (for very small stakes, but still). I believe that poker is a game of skill more than chance, and I find the fact that it is for all intents and purposes illegal to play online here — and pretty much only here — faintly ridiculous.So understand that I do indeed have a horse in this race, as it were.
But it’s also important to note that this study isn’t coming from fringe sources. Reuters is one of the preeminent news organizations in the world, and PwC has a sterling reputation as well. And if these numbers are correct, this could be a relatively painless way of shaving a bit off the government’s budget deficit.
It seems to me that we can scarcely afford not to re-evaluate the UIGEA. But then, I’m clearly biased. What do you think?
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