Study predicts 32,000 jobs from online gambling

In America, the Safe And Secure Internet Gambling Initiative pro-gambling lobby group has commended the release of a new study that projects regulating all forms of Internet gambling would create nearly 32,000 jobs over the next five years.

The study was conducted by H2 Gambling Capital, a leading supplier of global gambling data and market intelligence, and further found that regulation would generate up to $94 billion in gross revenues over the period alongside $57.5 billion in tax revenues.

Previous reports projected that $72 billion would be collected from license fees and other applicable Federal and state taxes over the next decade in a regulated environment without sportsbetting.

“This analysis further reinforces the fact that a regulated environment will pay dividends throughout the economy,” said Michael Waxman, spokesperson for the Safe And Secure Internet Gambling Initiative.

“With unemployment nearing ten percent, this study sends a clear message to policymakers that Internet gambling regulation is a common-sense way to immediately stimulate the economy, create close to 32,000 jobs and raise billions in much-needed new government revenues.”

The announcement coincides with moves in Congress to regulate online gambling including Democrat Barney Frank’s Internet Gambling Regulation, Consumer Protection And Enforcement Act. The Congressman’s proposed legislation has attracted support from a bipartisan group of more than 65 co-sponsors and is expected to be marked up in his committee over the coming weeks.

“We believe the significant job and revenue creation potential provides an immediate incentive for the Obama Administration and Congress to act quickly to regulate Internet gambling,' said Waxman.

“Leaving in place a failed prohibition should no longer be the government's misguided policy approach, leaving millions of Americans vulnerable as they continue to find a way to gamble online in a thriving underground marketplace.”