US Unemployment Rate Could Be Cut With Online Gambling Regulations

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Representative Barney Frank already knows the social advantages that regulated online gambling could have in the US. Now, a study released by H2 Gambling Capital claims that 32,000 jobs could be created if the US followed Frank's suggestion.

Rep. Frank has introduced legislation that would regulate Internet gambling in the US. Another piece of legislation would eliminate what many believe is an ill-advised law in the Unlawful Internet Gambling Enforcement Act.

H2 Gambling Capital is a group that is considered to be at the top of its field when it comes to collecting and analyzing data for the global gambling industry. With the US unemployment rate still rising, H2 Gambling Capital has concluded that over a five year period, up to 32,000 jobs will be created from the online gaming industry.

Currently, offshore companies are dominating the US online gambling market. With companies not being able to acquire licenses in the US, players are forced to go to these unregulated sites to get their action. Frank has acknowledged that the government needs to protect its citizens against these offshore, unregulated sites.

The House Financial Committee had planned on discussing Frank's legislation last week, but the hearing was delayed until a later date. Frank and his allies have until June to pass the legislation before the rules to the UIGEA go into effect. The rules were delayed back in December for six months.

In addition to the jobs that would be created, the US government would stand to make billions of dollars if they were to regulate online gambling. experts will be brought in during the legislative discussions to show the strong affect that Internet gaming revenue could have on the country.

April 21, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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