Nevada Prepared For Internet Gambling
With the steady decline in online gambling in the recent past, if the Congress passes the bill to legalize online gambling in the USA, gambling in Nevada would considerably benefit financially, but the possibilities of legalization are still uncertain. A few prominent individuals have commented that they don’t envisage this happening before next year.
Nevada has all the infrastructure and scope to have many online casinos operate from within, but the operators who necessarily have to pay an upfront fee and would be levied with taxes @ 6.75% on gaming profits, and Nevada could earn a huge amount on upfront fees on top of the normal licensing fee.
In the event of it being legalized then Nevada would necessarily be selected by the Department of Treasury to ascertain whether an applicant would fit the bill for issuance of a gaming license, since they had legalized casinos in 1931. The Chairman of the Gaming Control Board, Dennis Neilander commented that the Nevada Gaming Commission could establish policies that emulate Federal set of laws, which could enhance the rules governing online gambling.
This would effectively mean that online casinos would have to use sophisticated technology that assures that betting is not accepted from unauthorized internet gambling states, and that the adults below 18 or 21 had no right of admission to the sites. The recent developments have been that individual states could opt for legalization on condition the baseline standard of minimum criteria is met by the casino, along with a gaming tax that would also be levied.
This is not the first instance that internet gambling is getting passed thru’ Congress. During the time President George W Bush was in office, he had signed the UIGA in 2006 banning all gambling transactions making it a crime for banks / financial institutions to transact with online casinos and process their transactions.
Casinos are optimistic that online gambling will be legalized especially at this juncture when there is a general slouch in the gaming industry.
