e-Casino Directory

Online Casinos Legalization and Taxes

Although it may still seem somewhat premature, it appears that at some point the online gambling can be regularized in the United States and Europe. In England it is already possible to install an online casino, and the laws of this country are progressing every day on topics such as advertising, taxes, limitations of the access to certain people and many others.

Which are be the pros and cons of legalizing and regulating online gambling, is a topic under discussion since many years ago and the positions are irreconcilable. Basically, the arguments against the regulation are based on the possibility of the addiction enhancement, and the speeches in favour, are around the large amount of money that could raise taxes, the proliferation of illegal sites that the ban creates, and a few more. Some of these issues have already been treated in some previous articles, but let's see what would happen if hypothetically the online casinos were legalized for its installation in the U.S., Europe and elsewhere.

Obviously all the countries that legalize online casinos, would see their tax revenues increasing significantly, because now all the betting money from USA gamblers is going to the casinos installed in tax havens, outside of the borders where the bet is made. Needless to mention that in these times of financial crisis, all the governments will need money to cover the deficit that already exists and those that surely will come.

The financial crisis is changing fast our society. To go to a traditional casino a gambler needs money for travel, clothing, hotels, meals, drinks and many other expenses. Therefore it is no coincidence that the traditional casinos of Las Vegas and other cities are experiencing heavy losses, due the fact that many people can not afford the cost of travel to the gambling rooms. At an online casino you can bet for little money, and if for example you're a poker gambler, you can have fun with a few dollars, as the minimum to play a hand is one dollar. That is why in some circles the comment is that traditional casinos are deeply interested in install online versions of their games. If you add to this the fact that many banks have insolvency problems, the arrival of this activity will provide them an extra income. Another issue to consider is that with the legalization of the online casinos, the governments will have to put a lot of effort and controls to prevent gambling addiction. One way would be to put limits per person and per credit card, thus avoiding the financial ruin in which many people could fall. In addition to addiction, controls must be very hard to control the online access of minors.

What would happen to the offshore casinos?. Surely they will install subsidiaries in each country where the market is potentially profitable, paying taxes and cooperating with controls.

The author is the owner of an online casinos website and a researcher for the best online gambling sites

Article Source - http://www.e-casinodirectory.com