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Canadian Online Gambling Committee To Prove Industry Can Be Regulated
July 11th, 2010 – by Glen Farmer
Online gambling has recently been legalized in Quebec, with the province deciding to regulate and govern the games. The provincial government has created a committee of five officials to monitor the launch of Loto Quebec’s new Internet gambling website.
In the upcoming months, Loto Quebec will launch their online gambling site that will initially offer a regulated and taxed form of online poker, set to capitalize off of the already burgeoning online poker industry.
Online gambling is already deeply rooted in North America, with several of the gambling sites hailing from Kahnawake, an Indian reserve based in Quebec itself. Online gambling is almost universally unregulated in North America, with Quebec being one of the very few exceptions.
Quebec has decided to regulate online gambling in order to generate tax revenue from the money invariably spent on online gambling. The commission has been established in order to study the impacts of online gambling in the province, particularly as it pertains to pathological gambling.
The study will take place over a period of three years.
The United States has yet to capitalize on the enormous tax potential found in online gambling. It has been estimated that over $70 billion dollars in tax revenue could be collected over ten years.
Legislative attempts are underway in order to push the possibility of regulated USA online gambling. Several bills are in congress, particularly Barney Frank’s HR 2267, in order to overturn the Unlawful Internet Gambling Enforcement Act.
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