Could Online Gambling Save Nevada?
There are declining gaming and sales tax collections in the Nevada, which has really hurt the state’s budget. However, Nevada is a state that would greatly benefit if there were a bill that would make online gambling legal in the United States. That deal has yet to be approved, but it seems like it will happen.
Even though Nevada would benefit from legal online gambling it is a big if. In May a House of Representatives resolution was introduced and it would create a blueprint to allow licensed Internet gambling operators to take wagers from residents of the United States.
Legal experts have stated that the state of Nevada has the statutory structure already in place to both investigate as well as license Internet gambling operators. Nevada also may become the main jurisdiction in the United States for hosting casinos online.
If the online gambling websites were to operate from Nevada gaming regulators have come out and stated that Internet businesses would have to play fees up front. The Internet casinos would also be taxed at the very same rate as casinos that are on the Strip, which is currently 6.67% on revenues on gaming.
Online gambling becoming legal again is a big if and the key to overturning the UIGEA lies in the hands of the lawmakers in Washington D.C. recently, Federal lawmakers have centered their attention on health care reform in the country and the economic crisis in the U.S and have set aside other issues like the online gambling one.
Former Sen. Richard Bryan, an attorney with Lionel Sawyer & Collins, who spent 12 years representing Nevada in the U.S. Senate recently stated, “(Debate on the bill) probably won’t happen this year. My sense, however, is that there is a gathering, gradual momentum where, eventually, Internet gaming will occur and be regulated. I’m just not sure if it has reached critical mass yet.”
Even though there has not been a lot of action on the online gambling issue in Congress it does not mean there is a lack of interest on the issue. Bryan and fellow Lionel Sawyer & Collins attorney Greg Gemignani stated that the firm has been approached by potential clients who are looking to set up online gambling businesses in the state of Nevada if the action were to be legalized.
Lawmakers in Nevada began the process to license online gambling way back in 2001, but the effort went dormant in 2002 when there was no action in the Federal Government about the issue.
If online gaming becomes legal under the current bill in Congress, Nevada could be picked by the Department of Treasury to determine whether an applicant is suitable for federal gaming licensing.
