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Only Good Can Come from Federal Online Gambling Legislation

Only Good Can Come from Federal Online Gambling Legislation

There is ample evidence to show that prohibition doesn’t work, whether it’s alcohol or gambling, as soon as it’s made illegal people will find ways of doing exactly what they want.

Only Good Can Come from Federal Online Gambling Legislation

Federal legislation on online gambling would reduce black market activity and benefit the entire country.

Unfortunately prohibition has a number of unwelcome side effects, criminal activity, illegal manufacturing and distribution and more. The avoidance of these problems is more than a good enough reason to legalize online gambling at a federal level.

When online gambling was made illegal it simply turned millions of otherwise innocent Americans into criminals.

Furthermore, the expenses incurred by law enforcement agencies were absolutely huge.

Unregulated gambling products are extremely dangerous for the consumer. There are absolutely no safeguards in place nor are there any tax obligations. It is thought that Americans spend almost $3 billion each year on overseas gaming sites meaning that there is a huge flow of money out of the country with no chance of return.

A properly regulated industry would result in billions in tax revenues which could then be used to both ensure consumer protection and also support local communities’ budget deficits to pay for essential services.

There are very few reasons not to implement online gambling legislation at a federal level, and the sooner it happens the better it’ll be for gamblers everywhere and the industry as a whole.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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