Online gambling would make US billions and create thousands of jobs

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Legalised online gambling in the US could be worth as much as $22 billion in one year according to a new report.

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The report from H2 gambling capital shows that if internet gambling was legalised and regulated it could lead a potential national gross win of $22.0bn in year one (if sports betting is included) rising to  $42.0bn by 2015. If they exclude sports betting then the corresponding figures are $14.4bn rising to $26.7bn.

They also estimate that it could also create around 32,000 jobs for the US economy. The report shoes that expenditures from regulated internet gaming in the United States would top $94 billion over a five year period. This would generate $57.5 billion in tax revenues from wagering. If the United States were to regulate the online gaming industry without allowing sports betting, H2 Gambling Capital’s models indicate that regulation would provide gross expenditures of $67 billion over five years, which would generate $30.8 billion in tax revenue and 25,470 jobs.

In a statement accompanying the report director of H2, Simon Holliday, said:

“The regulation of internet gaming provides a unique opportunity to legislators in the current economic climate, names the opportunity to instantaneously create jobs and support economic growth while protecting consumers and reducing the budget deficit. This study should provide further incentive for the Obama Administration and Congress to act quickly to regulate internet gambling. Furthermore, the current situation where United States players use offshore sites causes billions of dollars to leak out of the economy each year and leaves tens of thousands of players without any onshore regulatory protection.”


The H2 report seems to provide further weight to the argument that banning online gambling is only harming the US economy. But with the UIGEA due to come into force on June 1st the clock is ticking for Congress to act on online gambling. The Frank bill seems the most likely to succeed with 65 sponsors and a successful committee hearing in December of 2009, it should undergo the markup process and find a forum in another committee. However, in recent weeks a hearing into the bill has been postponed with no new date announced.

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