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Revenues are Enormous

There is simply no denying claims that the online casino gambling industry is a cash cow for the countries that have legalized and taxed the industry. The UK is one of the best examples in the world of a country that has taken a controversial industry and manipulated the regulations to create a positive industry that benefits the entire country rather than draining on the economy. There is a lot of controversy and speculation surrounding the online casinos and the alleged harms that the industry brings in terms of gambling addiction and other social ills – but the money is undeniable.

The UK regulators have just reported that revenues from the UK internet gambling industry came in at more than $1.4 billion. This figure has been compiled from information supplied by various departments within the UK government as well as from the internet gambling sites themselves. The figures indicate that all of the previous predictions that were analyzed and cited before the industry was fully regulated are spot on if not under estimations of the industry. This is important to note because the US government is currently in the process of possibly regulating and taxing the industry.

Gamblers in the UK gambled more than 134 billion at the online casino sites, internet poker companies, betting, and nearly a quarter gambled through the National Lottery. These figures are significant and the gambling revenues brought in through taxation of the gambling industry supported the UK government’s budget. Additionally, the UK gambling industry supports more than 78,000 jobs in the country; an important consideration as the US looks to foreign nations for inspiration for a US licensed and regulated gambling industry.