Many US residents and lawmakers are of the opinion that the US government has turned down an opportunity to create thousands of jobs in the country even as they brace up for the State of the Union address by the President. The President is expected to discuss a number of hot topics with creation of new jobs topping the agenda.
Thousands of jobs could have been there for the asking for US residents if online gambling regulation bill brought to the table by Representative Barney Frank and Senator Harry Reid had become a law. It would have changed the lives of thousands of unemployed Americans.
According to gaming analyst Steve Schwartz, the online gambling industry is one of the most profitable industries in the world. Regulations of the gambling industry at the federal and state level can assist the government create a million plus jobs within the industry.
Under the plans that have been put up for approval, all online gaming companies would have got the requisite licenses to operate legally in the US. This would have brought in foreign companies and their need for staff to handle hundreds of operations. The promise of creating more than a million jobs as estimated by Steve Schwartz does not look much off the mark under the present circumstances.
While lawmakers from the US irrespective of their political affiliations are truly serious about their efforts to generate new jobs, they do not seem to be interested in tapping into the huge potential of job generation that the internet gambling market can offer. The online gambling market in the US has largely remained unexplored by the federal government.
Supporters of the online casino legalization bill have tried every trick in the book to make the decision makers see sense in the tremendous potential of this untapped pool of revenue and job generation. As it stands today, all US customers must send their money overseas to be able to play at their favorite online poker sites.
The President is also expected to speak in the State of the Union address about reducing the deficit. This is another area where legalizing of online gaming industry can help to a great extent. Regulating the online gambling industry can literally bring in billions of dollars to the government coffers and can help the government have a better control on the rickety economic situation.
Bipartisan support is the biggest stumbling block in getting the online gambling bills passed. Many conservatives have in the recent past shown signs of being positive in making some changes to the current online gambling laws. However, when it comes to the crunch, their commitment levels falls much short of expectations. Gambling prohibition is a top of hot discussion whenever there is a debate about the economic affairs of the country.
The key word is cooperation. Unless both parties come together on a common platform, the online gambling legalization bill will continue to flounder at the post as it has done so many times in the past. The President is expected to stress on the need to make a definitive move on the issue at the earliest. The need for cooperation is central to providing millions of online poker players the protection that they deserve while playing online.