Internet Safety

One of the best organizations that helps keep online casino players protected is the Safe and Secure Internet Gambling Initiative. The purpose of their organization is to protect players who enjoy spending their time inside the virtual world of the online casinos and also to protect the integrity of financial transactions. A recent analysis of the internet gambling industry said that the revenue from the United State’s online casinos are projected to increase about 22% in the next year. In the 2007 reports from Pricewaterhouse Coopers stated much more conservative numbers in regards to the internet gambling industry mostly due to the fact that the United States currently has a ban that keeps most people from playing at online casinos.

One of the newest reports that is currently being presented to the new administration says that the United states could potentially gain $51.9 billion in federal revenue over the next ten years if the online casino industry is taxed and regulated in the United States. For a country that is hurting for money, it seems like a no brainer. Two representatives, Jim McDermott and Barney Frank, have suggested to congress that they just keep going the way that they are with the current legislation that bans online casinos from the United States. Those two representatives have worked hand in hand with each other for the internet gambling industry. Mr. Frank introduced the Internet Gambling Regulation and Enforcement Act of 2007 and Mr. McDermott introduced the Internet Gambling Regulation and Tax Enforcement Act of 2008.

The two representatives of the United States presented their ideas to hopefully establish a regulation for the online casino industry and enforcement for operators. A spokesman for the Safe and Secure Internet Gambling, Jeffrey Sandman said: "This analysis further illustrates that the U.S. is missing the opportunity to collect billions of dollars in federal revenues. We are optimistic that the Obama Administration and Congress will pay closer attention to this issue as they seek to find new revenues that can be generated without raising taxes for critical federal, state and local government programs. Regulation is also needed to ensure there are safeguards to protect against compulsive and underage gambling, money laundering, fraud and identity theft." Sandman finished by saying, "The current ban on Internet gambling has proved to be a failure as millions of Americans continue to gamble online each day."