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Top > News > 2005 > December > 6 Dec 2005

Expanding the Online Casino World Wide

Current online casino profits estimate at 7.5 billion dollars a year, with a future increase to $20 billion by 2009. These massive profits translate to tax intakes, by those governments that allow online casino businesses, of millions of dollars. Why is it that countries like the US and UK prohibit or limit the online casino industry? Currently, the major internet gambling hubs are situated in countries such as Gibraltar, Aderney and the Caribbean, where businesses have to pay limited taxes. . Doesn't the US want to see some of the money from the online casino? Don't legislation changes and tax cuts seem logical to help bring in these markets?

The Victor Chandler Group, a well known and highly regarded online casino company, has already stated that if allowed tax breaks in other countries, they would expand their empires globally. It seems absurd that the US, whose citizens spend the most time on online casinos, has yet to legalize them. And the UK is not much better off, having set many laws that limit advertisements. With the increase in the popularity of the online casino, such massive tax gains by these governments are inevitable. The only step they must take is to allow for tax cuts and in the US, change outdated laws.

The benefits of tax exemptions, which will lead the way to the global expansion of the online casino, out weigh any negative effects. Internet based gambling firms, who are already UK based, are considering moving their headquarters to countries which will allow them to retain larger earnings. Why is outsourcing continuing then? Is it the question of ethics? If that is the case, the US is losing regardless, as their online gamblers play at international online casinos. The casino industry is growing rapidly and the net worth is reaching billions and billions of dollars. The UK and USA need to seriously reconsider what they believe to be ethical in the world of online gambling.