JD Journal

British research and consulting firm H2 Gambling Capital has produced a new report that could facilitate the creation of legalized online gambling. The reason is simple: the report estimates the creation of 32,000 new jobs and $57.5 billion in tax revenue over a 5-year period.

“This study should provide further incentive for the Obama administration and Congress to act quickly to regulate Internet gambling,” said Simon Holliday, a director at H2.

HR2267 is Congressman Barney Frank’s efforts to create such legislation, and the new information is a boon. Congressman Jim McDermott has a complementary tax proposal which also stands to benefit from the new report.

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