Monday, May 23, 2011

Several States Looking At Legalizing Online Gambling

The following is an article submitted by Rachel from an online gambling portal.

Despite the continued fight at the federal level several states including Colorado and Nevada have proposed the legalization of online gambling.

The Denver Post recently reported that the Colorado Gaming Association had requested a study be conducted toward the decision to implement the online activity. In the mean time Nevada's state Assembly has passed a stripped-down Internet gambling bill calling for the state to develop a licensing process for online poker businesses.

For many, this is a major step forward in the fight to the legalization of online gambling. Colorado and Nevada could become industry trail blazers along with Washington, D.C., who recently authorized Internet gambling within its borders, and states such as Hawaii and New Jersey who have also considered doing the same this year.

The recent crackdown of three online gambling websites has proven that it is not affecting the demand or necessity of implementing the activity.

Founders of Pokerstars, Full Tilt Poker and Absolute Poker were among 11 people charged by the U.S. on April 15 with offenses including bank fraud, money laundering and illegal gambling. While all three sites have taken a hit sites outside the US have shown continued growth.

Clearly the states want in on the billions of dollars of annual revenue. Global online gambling consists of approximately 17 percent Americans and the total revenue generated from online gambling by residents of the United States equates to $6 billion per year including, online casinos, online sports betting and online poker rooms.

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