Is it time to legalize online gambling?

A survey made online by the newspaper USA Today has revealed a deep support for the legalization of online gambling among Americans, with 97% of almost 2500 people surveyed answering positively to the query: "Is it time to legalize online gambling?"  The survey was published on the newspaper’s sports blog along with an article about online gambling activities and the possibility to amend the Unlawful Internet Gambling Enforcement Act.

Washington Democrat Jim A. McDermott introduced legislation to US Congress last as part of the latest efforts to legalize, regulate and tax online gambling. Based on research by Price Waterhouse Coopers, McDermott believes as much as $40 billion could be generated over the next 10 years.  McDermott's main argument is that the U.S could be generating revenue from online gambling if the activity is properly taxed. Also, Rep. Shelley Berkley, D-Nev., will ask the House Judiciary Committee to investigate how much revenue the U.S. could produce if online gambling were legalized. The study could defy the Unlawful Internet Gambling Enforcement Act, which disallows the transfer of funds from a financial institution to Internet gambling companies, including online poker sites and online sportsbetting services.

In addition to the legislative actions, a study released two weeks ago on online gambling suggests that such action can bring more benefits than damages to the Las Vegas gambling machinery in the near future. The study was conducted by academics from UNLV and the University of Western Ontario in Canada, the study suggests that the U.S government should persuade large corporations such as MGM Mirage, Harrah’s Entertainment and other successful Las Vegas operators, to enter the online market. Harrah’s spokesperson, Gary Thompson, said that Harrah’s supports the study and that it would be willing to explore the possibility to invest in the online market depending on the government’s approach.