US States Choose Online Gambling over “Tax or Cut”
Obama, Romney or online casinos? If you answered online casinos, you win $4 billion!
Thanks to new laws in Nevada and New Jersey, online gambling is coming to a state near you.
Other states are expected to follow suit. If experts are right, online casinos could spend more than General Motors spent on advertising in 2011.
Simon Holliday, director of H2 Gambling Capital, “somewhere between $3.5 and $4 billion could be spent by the internet-gaming sector” on marketing and advertising over the next 5 years. If it keeps up with demand, online gambling could be spending as much as insurance companies on advertising by 2017.
In a tight economy, every dollar spent counts.
Not surprisingly, Nevada was the first state to take the plunge and “re-legalize” online gambling.
Online gambling should get going there in January. 10 more states are expected to pass laws in the next year that will legalize and regulate various forms of online gambling. With its huge budget deficit, California is expected to join the online gambling club.
If you ask Americans, “Tax, cut or legalize online gambling”, many will prefer the latter. In some states, only online poker will be legalized. In other states, there will be less regulation.
One thing is certain – the bigger the states’ deficits, the better the odds they will legalize online gambling.