New study positive for online gambling job creation

New study positive for online gambling job creation

A new report on US gambling from the British research and consultancy firm H2 Gambling Capital could provide the pro-legalisation lobby with some useful ammunition, reports the Washington DC publication The Hill.

Released early this week, the study found that legalised online gambling in the USA could create 32 000 new jobs and $57.5 billion in new tax revenue over five years....and lead to an estimated $94 billion in new economic activity.

"This study should provide further incentive for the Obama administration and Congress to act quickly to regulate Internet gambling," Simon Holliday, a director at H2, said in a statement announcing the availability of the new research. He pointed out that by maintaining a prohibitionary approach to online gambling in the United States lawmakers are losing billions for their economy and leaving tens of thousands of U.S. players without any onshore regulatory protection.

The new information could provide a positive contribution for Congressman Barney Frank's latest HR2267 move to legalise online gambling, which is partnered by a complimentary tax proposal from Congressman Jim McDermott.

HR2267 has attracted the most support so far for such legislation, with 68 bi-partisan co-sponsors, and a House Financial Services Committee hearing to discuss the bill was postponed due to a diary rescheduling just last week.