INTERNET GAMING STUDY REVEALS POTENTIAL BILLIONS IN NEW REVENUE

A recent PricewaterhouseCoopers study estimates that the United States government could realize nearly $52 billion in new revenue over the next decade by ending a three-year-old ban on Internet gambling and taxing the activity instead.

Forecasting increased demand for online wagering, the estimate is 22 percent higher than the $40 billion projected in a 2007 study.

Congress could re-open the issue of Internet gambling as early as this year as it seeks to close the deficit gap and identify new revenue streams.
In 2006, Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA), outlawing the use of credit for illegal online gaming and protecting horse racing’s authority to offer it under the Interstate Horse Racing Act (IHA).

Outside gaming interests, the banking industry and Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, all have reason to overturn UIGEA and its associated regulations. The NTRA’s lobbying team continues to work to ensure that horse racing’s $1.5 billion market for online wagering is protected.

Your past participation in supporting horseplayer issues is important for the industry. You can help further by joining the Horseplayers’ Coalition, a group whose objective is to seek legislative and regulatory solutions to tax and business issues that impact pari-mutuel racetracks and their customers.

For more information: Joe Bacigalupo, Director of Membership Development, NTRA, 859-422-2677 or joeb@ntra.com