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USA online casino regulation - not this year

November 23, 2009


U.S. competing laws in Congress to license and regulate online casinos in the USA almost certainly will not be adopted this year or next as Congress paddles through health care reform and different matters, professionals alleged in the course of the Global Gaming Expo this week.

Some framework for legalization may just be a question of time, if only because the U.S. government is short on cash and some online casinos are keen on paying taxes in trade of regulatory endorsement. However, bystanders ponder if attempts to reap tax revenue from internet casinos will be futile.

Even though Britain licensed online casinos just several years ago, gaming websites stay concentrated in low-tax regions such as Alderney, Isle of Man and Costa Rica.

USA online casino titans or offshore corporations may prefer not to operate in the united states simply due to the higher taxes, online casinos advocates claimed. Offshore gaming websites — specifically those that keep on allowing U.S. residents to wager in spite of the Justice Department’s stance that processing funds for online casinos by Americans is unlawful, or turn down being licensed in the U.S. once laws are approved— might then have a competitive edge over U.S. companies that pay taxes.

In addition, online gamblers don’t want the feds knowing about their winnings and might choose offshore websites rather than regulated websites that would report player winnings for tax purposes, they claimed.

Good Luck

From the Online Casinos USA team


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