Economy Of Online Casino In US And China

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<h1>Economy Of Online Casino In US And China</h1><strong> Author: <a href='http://www.articleseen.com/profile_reese.aspx'>reese</a></strong><br /><p>These days, the US is split in their decision about online gambling industry. Some states are beginning to realize the massive benefits to the economy if regulated online casino and even sports betting was allowed. Operators would have to purchase a license and renew it every year. But the big money would come from national operators because the money would go right back into the US economy. Other states, however, are more concerned about the effects online gambling could have on individuals and their families. There are definitely loopholes and questions regarding whether or not online casino is legal. Some people argue that the laws were created to fight terrorism and organized crime and not the average betting online at casino. Other people disagree. Compulsive gamblers are shown to have a higher suicide rate over any other addiction because of the financial strain. The US has often been compared to China in its stubborn and aggressive determination to keep online casino illegal. However, the ministers in the Chinese government are recommending that gaming laws be loosened, potentially leaving the US as the sole most repressive country regarding online casino. Officials governing sports told the Chinese parliament that allowing betting online at online casino and sports betting sites could stop the flow of money to foreign casino sites and raise national revenues. Despite prison terms given to both players and operators of casino sites online, illegal online casino is estimated to take in ten times as much revenue as the legal lottery. Deputy sports minister Wang Jun told the Chinese People's Political Consultation Conference said, “The sports lottery can help create jobs. There are some 300,000 lottery ticket sellers in the country. In Hong Kong, where the legal lottery is well developed, the official business is 10 times as big as the private ones.” On the other hand, still, the US is pushing for the legalization of online casino. While they are not the only country to come up with the idea, if the bill is passed US will be an online casino pioneer across the globe. The entire country still follows the Unlawful Internet Gambling Enforcement Act (UIGEA) which bans banks and credit cards from processing transfers to and from online casino. For them, the US that has become accustomed to spending money instead of generating it, betting online at online casino could be a solution that people in the US would respect. It may not gather much support from the far right, but as the recent election has shown, the rest of the US is ready for a change. The study that was done by PricewaterhouseCoopers backs up what Schwartz believes. The estimate from the latest study on how much the US could raise by regulating the online casino industry has risen by 22 % over an estimate from 2007. Until now, since China is legalizing online casino, still, the US is still passing a bill to legalized it to regain their declining economy, since a lot of Americans are keen with casino games and with the help of online gambling, US could generate $52 billion over the next decade. </p><strong>About the Author:</strong><br /><p>Reese Wilkinson is a writer of the most trusted <a rel="nofollow" href="http://www.onlinecasinolead.com" ><b>online casino</b></a> guides and reviews; <b>OnlineCasinoLead.com</b> that offers the latest gambling news, casino gaming strategies, top casinos such as in USA casinos and UK casinos and other gambling information. Also find the best of all the top notch <a rel="nofollow" href="http://wwww.onlinecasinolead.com/free-casino-games.html"><b>free casino games</b></a> including slots, roulette, blackjack and poker and<p> Article Source: <a href='http://www.articleseen.com/Article_Economy-Of-Online-Casino-In-US-And-China_74446.aspx'> http://www.articleseen.com/Article_Economy Of Online Casino In US And China_74446.aspx</a></p>

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Keywords : legalizing online casino, online gambling industry, legalization of online casino,

Category : Recreation and Sports : Gambling and Casinos