Neither candidate has addressed the issues of online gambling, but chances are that we will be allowed to operate in the US in the next few years and that would be a benefit to everyone. Sportsbook operations have been barred from operating on US soil since their inception in the early 1990s. The existing laws barring gambling on sports and the operation of sportsbooks have prevented this development. Thus, offshore sportsbook operations are forced to operate in foreign countries.
This has been a very sticky political race for some time now but it could soon be resolved with new legislation supported by the new president. In the past three presidential elections the issue of sportsbook gambling and offshore sportsbook operation has been a hot topic. Surprisingly, this year the issue of offshore gambling sites has hardly been addressed.
And perhaps that’s a great thing, considering that when it has been debated, nothing positive has happened with respect to bringing offshore sportsbook operations to the US. The benefit of such a deregulation of sportsbook operations would be immediate. As is, the service provided by sportsbook operations right now is superb.
But it could be improved in many ways. For example, if a sportsbook operation were located in the US there would be little, if any difference in the time zones. Another benefit would be a support staff that would perhaps be more helpful in terms of language (not to say that current support staff isn’t already very well-spoken).
But the real benefit of sportsbook operations moving to the US would be felt by all citizens of the US, not just sports betting fans. As is, the sportsbook operations outside of the US derive most of their revenue from the US, but pay no taxes on it.
Yet, these businesses would gladly pay their share of taxes if only they were permitted to by Congress. If the sportsbook operations were operating on US soil they could be taxed on their revenues. And at a time when the US is staring at its largest deficit in its history who could oppose such a tax revenue extra?
It simply makes sense to move sportsbook operations to the US and this should be a key concern for any new president elected in the first week of November.
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