Notes

Online Gambling and Tax Revenue in the First Half of 2009
The summer season is known as the "dead season" for online gambling companies. It is hot and most people prefer to stay in bed instead of going outside. Online gambling companies must find new ways to grow their business. To achieve this they offer generous bonuses during the summer months. During the winter months however, they provide less than generous promotions. The holidays, on the other hand, are extremely lucrative for online gambling companies.

Online gambling is legal

There is some debate about the legality of gambling online. While some states have laws prohibiting gambling on the internet, other states have not yet issued licenses. The United States Department of Justice has a big concern regarding online gambling and the possibility of money laundering. It is difficult to trace transactions that are conducted on the Internet because they are not traceable.

The popularity of online gambling increased in the latter part of the 1990s. In 1996, there were just fifteen online gambling sites however by the end of the decade, there had been more than 200. According to an Frost & Sullivan report, the industry generated more than $830 million in revenue in 1998. The first online poker rooms were established in 1998. The Internet Gambling Prohibition Act was introduced to the US Senate in the same period. The bill would have barred U.S. citizens access to these sites. However, the bill was eventually amended and was adopted by President George W. Bush in October. Despite this setback, gambling online is still in the news.

In 2011, the Department of Justice issued an opinion that had implications far beyond the legality of lotteries online. The Wire Act was interpreted to include "sporting events" and exclude other forms of gambling. This decision cleared the way for casinos online and lotteries.


Minimum age requirement for online gambling

Gambling online is a rapidly expanding industry that has revenues of more than $46 billion in the US alone. By 2024, this number will likely to surpass $94 billion. Moreover, the current laws must be amended to accommodate this expansion. While 18-year-olds may be in war at any time, a minimum age of 18 is considered mature enough to play online casino games.

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

The minimum age to gamble is different by state. While federal law does not prohibit minors from gambling, states have the power to create their own rules. Some states permit minors to place bets on cruise ship ships, while others ban it.

Revenues from taxation from online gambling

The first half of the year is shaping up to be a great time for tax revenues derived from online gambling. In just the first six months of the year the state of Nevada recorded $87.8 million in taxes, both local and state-wide, from online gambling, up from $34.7 million during the same time last year. The state estimates that online gambling will contribute between 20 to 28% of the total tax revenue from casinos.

In October, online casinos brought in record $109.7 million in revenue, up 7.1 percent over the previous month. This amount includes $98.9m in free play revenues and $20.3 million in payments to Nevada. Since harrys casino review , online gambling contributed $220.8million to the state's budget.

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