Industry Future Revenue Billions Annually

Analysts commonly point out that the U.S. is letting the online casinos boom go by, while banks, investors and the site operators in countries like the United Kingdom are cashing in. The industry has also proved it´s anything but a passing fad. Some analysts predict that in the next five years the total revenues from online gambling will surpass to $22 billion, regardless of legal issues.

Some estimate that the U.S. is losing out on as much as $7 billion per annum through the government´s refusal to legalize and regulate the industry. While some banks and internet firms such as Yahoo and Google have given in to government pressure and have refused to accept advertisements for online casino firms, numerous other media outlets continue to do so. Internet merchants such as Neteller support tens of thousands of daily transactions made from American players to international gaming sites. Online gaming firms continue to reap the bulk of their profits from the American market, despite the government´s ban.

All these factors would suggest that the U.S. attitude toward online gambling is not only short-sighted, it is also ineffective. Several initiatives are being pushed through the U.S. Senate by traditional opponents of gambling, but none as yet have had any real momentum. Similarly, legislation aiming to create a framework for regulating the industry has failed to receive mass support. It appears that the issue will continue to be debated into 2006 with no significant change on the horizon.