Notes

Online Gambling and Tax Revenue in the First Half of 2009
The online gambling industry considers summer the "dead time". The weather is pleasant and the majority of people would prefer to remain in bed rather than go outside. Online gambling businesses must find new ways to grow their business. To achieve this they provide generous bonuses during the summer. In winter however, they offer less lucrative promotions. The holidays however are extremely profitable for online gambling companies.

Gambling online is legal

Online gambling is a subject of debate. Some states have specific laws against it, whereas others have not yet granted licenses to online gaming operations. The United States Department of Justice has a big concern regarding online gambling and the possibility of money laundering. Because the Internet is anonymous it is difficult to track down the money behind transactions.

In the latter part of the 1990s, online gambling became more popular. There were fifteen sites in 1996 and by the end of the decade, there were over 200. According to an Frost & Sullivan report in 1998 the industry was producing over $830 million in revenues. The first online poker rooms were launched in 1998. Legacy Of Ra Not On Gamstop Gambling Prohibition Act was introduced to the US Senate during this time. This would have prevented U.S. citizens from accessing these websites. However the bill was later changed and was adopted by President George W. Bush in October. Despite this setback, online gambling is back in the news.

In 2011 the Department of Justice issued an opinion that had implications far beyond the legality of lotteries on the internet. The Wire Act was interpreted to include "sporting events" and exclude other forms of gambling. This decision opened the door for casinos that operate online as well as lotteries.

The online gambling industry requires an age limit of 18


Gambling online is a rapid expanding industry that has revenues of more than $46 billion in the US alone. This number is expected to increase to $94 billion by 2024. The laws in place must be amended to accommodate this expansion. While 18-year-olds are able to be in war the age of 18 is considered to be mature enough to play online casino games.

Age requirements vary from state to state. To be able to gamble online in Australia, for example you must be at minimum 18 years old. In Portugal, you must be at least 21 years old age. This age requirement applies only to native Portuguese players. Players from the UK must be at least 18 years of age. In the United States, you must be at minimum 21 in order to be able to wager real money. There are exceptions to this rule. For instance, Minnesota, Idaho and Alaska where the minimum age for real money gambling is 16 or 19.

The minimum age for gambling is different for each state. While federal law doesn't prohibit minors from gambling, states do have the ability to make their own rules. Some states permit minors to place bets on cruise ships while some ban it.

Online gambling generates tax revenue

Online gambling has generated a significant amount of tax revenue during the first half of. In just the first six months of the year, the state of Nevada received $87.8 million in local and state taxes from online gambling, a rise from $34.7 million in the same period last year. According to the state, gambling online will make up between 20 to 28% of total tax revenue from casinos.

In October, online casinos generated a record $109.7 million in revenue, which is up 7.1 percent from the previous month. This figure includes $98.9m in free play revenue and $20.3 million in payments to Nevada. Since January 1st, online gambling has contributed $220.8million to the state's budget.

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