Online Betting Articles
The future of Internet gambling taxation
The future of online gambling is now in its crucial stage and internet market analyst state that the tie breaker would come in the form of Internet taxation. While some countries have legalized their online gambling industry, countries like Antigua, Finland, Germany, and Sweden, the US now stands without clear policy on the matter. As for now the Wire Act strictly prohibits any gambling activity by US's residents though in May, 2005 the State Horse Racing Commission had authorized a horse gambling site which operates in the state of Washington. Even the American Congress has no clear stand regarding online gambling or profits which had gained by online activities.
The legislation regarding Internet taxation in the US is currently at hold. Senator George Allen's Internet Tax Nondiscrimination is waiting for "the findings, conclusions, and any recommendations from the study to the Senate Committee on Commerce, Science, and Transportation and the House of Representatives Committee on Energy and Commerce no later than November 1, 2005".
This act will lift barriers from Internet profitable activities. Though the Act do not address profits made by online gambling, it is most likely to include them. More importantly, the Act would become a crucial element in trials currently holding against US gamblers and operators. The Internet Tax Nondiscrimination would pave the way for a constitutional change of the online gambling status.
All eyes are now pointing toward Washington DC, where the future of Internet taxation, and even the future of online gambling in the US, would be determined.
Chris Anderson, Editorial staff