One thing that state legislators have been up in the air about for a long time now, has been whether or not they can write the online gambling laws themselves.
It isn’t a small question. Just think of the amount of dollars that are involved.
The online gambling market is estimated to be worth approximately $4-billion right now and is projected to double within the next two years.
That means if state legislators can write adequate law to include it in their own economies, they can have a huge moneymaker for the future.
Right now the US is still working under the stringent laws of the UIGEA, a bill that tried to push online gambling completely out of the US economy. It never worked; prohibition of any kind never does.
That hasn’t stopped state legislators from trying their best to amend the law though. The question for a long time though was whether or not they reasonably could do so.
Now there is a clear cut answer to that question. They are allowed to now make the changes necessary for their own state’s betterment financially and this is great news for all involved.
Since the online gambling market is so lucrative, state legislators can’t wait to make the changes necessary to allow gaming in.
Gambling is something that is consistently growing and state legislators are more than willing to put the time and effort into building it up. They want to make it a part of their economy, but without the proper laws this could prove to be disastrous.
There also are other things to take into account. They have to make sure that the proper protections for players are in place. They have to make sure that the proper laws are there to make them accountable for monies received via gambling.
Online Gambling has proven to be reliable when it comes to generating cash time and time again. This is why it is such a coveted hobby right now and state officials are looking to get into it.
They know this could be the answer to their money problems thanks to the recession.
This could be what they are sorely in need of to truly turn their own economies around.