However, until now the sportsbook industry and online gambling in general has rarely been the topic of public debate and hardly mentioned at all by either of the major candidates. With so many more pressing issues such as the war in Iraq and the crumbling economy, it might seem like online sportsbook discussion would have little relevance in such a weighty discourse, but bringing the online sportsbook industry to the US might be just the to help tackle the country’s economic woes.
Ever since it’s creation in the early 1990’s the sportsbook industry had been headquartered off of US shores. For anyone that has ever visited an online sportsbook is sure to notice that the location of operation is generally some island in the Caribbean or a Central American country. The US Congress for much of the past decade has worked to ensure that no sportsbook operation bases its operation in the US.
But this has been an extremely myopic and counter productive policy and as such the US economy has been unable to harness the many returns that the sportsbook industry creates. For example, not one cent of tax revenue has been collected from a sportsbook operation and not one single job has been created by the sportsbook industry on US soil. In the midst of a deep recession there is hardly anyway practical way to justify this type of development and no convincing argument as to why the sportsbook industry should continue to be banned in this country.
The so-called ‘moral’ argument that many opponents of the online sportsbook industry have used in the past hold little water as gambling of nearly every stripe imaginable is readily available to anyone in the US in the form of legalized casinos and via the Internet (ie Internet sportsbooks).
So instead of working so hard to keep sportsbooks off US soil, congress members should be looking to this sector as a possible solution to the economic crisis. It would be a potentially great benefit to everyone -save the wealthy casino owner lobbyists that bankroll congressional re-election campaigns.