In an attempt to begin legalising internet gambling, two U.S. Senators, democratic Ron Wyden and republican Judd Gregg, on February 23 introduced the “Bipartisan Tax Fairness and Simplification Act”, a bill that could make online gambling a regulated activity. In this scenario, operators will be charged a 2% licensing fee on their monthly receipts or on all player purchases. Moreover, Gregg and Wyden’s tax proposal provides for a 50% penalty on all deposits in the event a company should fail to pay this 2% fee, effectively rendering all wagers placed there illegal and unauthorized. This audacious bill may very well be a concrete step towards the legalisation of online gambling in the United States.
Response to the bill
“This bipartisan initiative highlights the growing support for replacing the failed prohibition on Internet gambling with a system to regulate the industry, protect consumers and generate billions in new revenue”, said Michael Waxman from the Safe and Secure Internet Gambling Initiative. It is noteworthy that in spite of government prohibition, each year millions of American citizens wager more than $100 billion through offshore gambling operators. The bill specifies, “Internet gambling in the United States should be controlled by a strict Federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, and also to ensure the games are fair“.
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