May 12th 2010

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Online Gaming and Bingo Could Create 32,000 U.S. Jobs
| 2010-05-08
Written by: Tami Bayliss

Online Bingo A new study is being propagated by a pro-gambling lobbying group called the Safe and Secure Internet Gambling Initiative. The study, conducted by H2 Gambling Capital, projects that the legalization and regulation of Internet gambling in America would create 32,000 new jobs over the next five years. This study derives credibility due to H2 Gambling Capital's status as a world leader in gambling data and gaming industry market intelligence.

This study further projects that during this five year period $94 billion in revenue along with $57.5 billion of consequent tax receipts would be generated. Previous studies had indicated that total tax and licensing receipts to federal and state governments would exceed $75 billion - even without the legalization of sportsbetting which is the most controversial form of online gaming. This huge tax windfall projected to be generated solely by online bingo and casino games would go a long ways toward filling America's current revenue gap.

Michael Waxman, spokesman for the Safe And Secure Gambling Initiative, further indicated that legalization of online bingo and gaming would have a trickle down effect throughout the entire American economy generating myriad ancillary jobs and new small businesses. These new jobs are greatly needed in the U.S considering that the current unemployment rate is now approaching 10%. This study comes on the heels of Congressman Barney Frank's proposed legislation which would seek to legalize, regulate and tax online bingo and casino games. This legislation currently has 65 co-sponsors from both sides of the aisle, and political commentators have noted that it has steadily been gaining support as the need for additional tax revenues and jobs increases.



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