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Bringing in More Recession Monies

The US online casino gambling industry has tanked in the past more than two years thanks to bans and blocks at the federal level. At the same time, the US government put in place legislative carve-outs that are designed to benefit certain sectors of the gambling industry within the US. Chief among those carve-outs has been the horseracing industry. As the recession really hits hard in the US and there is no hope right now that the state governments can count of revenue regulating the online casinos any time soon, some states are reading the fine print in the UIGEA and taking full advantage of the carve-outs outlined therein.

Illinois is the latest state to take advantage of the US government’s protective legislation that stops all foreign online casinos and internet gambling companies from accessing in the US market. While many internet casinos still operating in the US market, the horseracing market is wide open for state control. The Illinois government has taken note of the huge possibly revenue in this sector of the market, as much as $2 million right of the bat going straight to the state.

The new Illinois plan? To legalize betting on horseraces off-track: via online betting sites, phone, and kiosks that will be available at choice venues around the state. The US state budgets are getting really thin these days and the planned expansion of the state online horseracing industry is a huge step into the betting sector for Illinois. There is no sure course though for this legislation since there is questionable support and a lot of opposition already preparing to fight the introduction of internet betting to the state.