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Federal Government Needs Revenue

There are a lot of opinions floating around the United States government these days as politicians and industry analysts weigh in on the online casino gambling situation. Interesting enough, just like any industry there is not a lot of consensus on where the internet gambling legislation is heading. The Libertarian Party’s candidate for the 2008 election, Bob Barr, feels that there is a strong chance that new bills calling for the licensing and regulation of the gambling industry could pass because of the current economy and the lack of a Federal budget. Right now any revenue from the online casinos is going straight out of the US since the companies are operating illegally and from offshore jurisdictions.

Barr though feels that the current economic climate is the perfect backdrop for bill proposed and pushed Barney Frank, Robert Menendez, and other politicians that look to legalize online casinos and funnel tax monies from the gambling industry into the federal government’s budget. This is a very strong and dominant argument in the US right now and one that is highly supported. Many politicians and online casino gambling companies feel that the current economic pressures facing the federal government give the perfect framing for legalizing the internet gambling industry.

There is a flip side to it though and not all online casino gambling industry analysts and experts agree with Barr’s assumption that the economic climate is an advantage. Tony Cabot contends that the Democrats are going to focus more on the pressing issues during the tough economy rather than push through highly controversial legislation that is likely to rouse the rhetoric of the Republicans.