Online Gambling To Increase Revenue And Create Jobs
Added: May 2, 2016
As odd as it may at first appear, that headline is exactly what some forward thinking legislators are stating. Interestingly, this proactive online casino stance is originating in the state of Michigan. Not exactly a hotbed of online gambling site activity to be sure. Nevertheless, no less than five state senators from Michigan have put their names on the line with a new bill they only just recently unveiled. This new online gambling site legalization bill is SB889. Even more interesting is the name selected for SB889. Get this: SB889 is officially known as the Lawful Internet Gaming Act.
That title selected for SB889 seems to be squarely aimed at the Unlawful Internet Gambling Act of 2006 (UIGEA). You may well recall that is was the UIGEA that setup prohibitions against online gambling sites. Perhaps you may also remember that the UIGEA was worded in such a way that it technically prohibited online gambling sites from performing transactions with financial institutions in the U.S.
All of that being said, the newly arrived SB889 is a fresh approach to the concept of legalized online gambling sites. In short, the wording of Michigan SB889 clearly allows for the legalization, the regulation and of course the to be expected taxation and online gambling site fees that are expected to be collected. One of the five Michigan Senators behind SB889, Senator Mike Kowall had this to say: “the bill’s purpose is to protect residents of this state who wager on games of chance and skill through the internet and to capture revenues and create jobs generated from internet gaming.”
Wow. There is quite a bit in Senator Kowall’s quote. Take a look again. Note that the Senator is not even considering the idea of whether or not Michigan residents are engaged in online casino action. In fact, his comment acknowledges without directly saying so that Michigan residents are already engaged in online casino action. In other words, the Michigan Lawful Internet Gaming Act will simply protect those Michigan residents that choose to enjoy some online casino action. At the same time, SB889 will also bring in some additional revenue to the state treasury.
One interesting detail written into SB889 is the section that addresses the tribal casinos. As written now, SB889 is setup so that tribal casinos have to go through the same application process as well as waive their sovereign immunity and pay the taxes and fees to get one of the 8 online casino licenses to be issued.
Without question, the status of SB889 in the State of Michigan is a topic that proponents of increased online casino action in the U.S. will want to monitor closely.