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Inside Straight -- News

by Card Player News Team |  Published: Dec 11, 2009


Report Estimates Online Gambling Could Bring in $42 Billion New Congressional Study Shows Financial Implications of Regulation By Stephen A. Murphy A new congressional report estimates that the regulation of Internet gambling could bring in up to $41.8 billion in revenue in the next 10 years. Rep. Jim McDermott (D-Wash.), one of the co-sponsors of Rep. Barney Frank’s (D-Mass.) legislation to explicitly legalize and regulate online gaming, announced the findings of the report by the joint committee on taxation. “I suspect that many of my colleagues, especially those on the fence, will take more interest in this issue once they see $41 billion available that they can match up with any number of worthy programs,” McDermott said. “I would suspect it’s only a matter of time before Congress appropriately moves to regulate the industry in order to protect consumers and reverse the flow of billions of dollars currently lost offshore ...

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