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October 25, 2014

Online Gambling Regulations being Discussed amongst State and Fed Officials


Currently in all of the states in the USA whatever is won or earned through the means of online gambling is not taxed. Every penny that is won on a roulette table or a slot machine, even a bingo site, goes straight to the winner and not to any federal Government. But now, as the state economy is in desperate times and the deficit is worse than ever, some government representatives are calling for taxation on the funds won by those who enjoy online gambling. Barney Frank

The federal representative currently leading the campaign for taxation and regulated online gambling is Barney Frank, and due to his current proposals, he is not the most favorable man in the USA at this time. As always, there are supporters and cynics of this proposal and each person no matter which side they’re on each have a valid reason as to why.

Some supporters of this campaign would say that taxation and regulation of online gambling is a good thing and should be allowed to happen as it means that the money to pay the deficit will come from other sources rather than more important sources such as medical or education. But cynics of this campaign would also say that the money that comes from internet gambling is not earned, it is won, and money was put into this in order for money to come back and so taxing and regulating it would mean there would be no fun left in gambling.

It’s not only fans of online gambling that are currently opposing this proposal though, as some states within the USA are also currently opposing the rule as they would not be able to stop the action themselves if they didn’t agree with either due to it being a federal government law. This could take some control away from certain states which may lead to them opposing other more serious matters.

As the negotiations continue, no one knows a definite answer yet as to how the revenue will be dealt with when it comes to online gambling, but it is said that the main legislators in Washington are currently perusing the idea of regulation and taxation on online gambling. By doing this the federal government are hoping to decrease the deficit and bring the USA up to the top of its game again, but no one quite knows how this will all work out in the end.

Online gambling is a mass craze with thousands of people not only in the USA taking advantage of casinos from the comfort of their own home, and by taxing and taking percentages away from the winners of home casinos may cause uproar and disrupt within citizens of the US. We’ll only know how people are really going to react to this rule once its come into power, if it does come into power at all, but I’m sure we’ll get our answer soon enough and the taxpayer won’t only be a working citizen but also citizens who enjoy games too.


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