Tax Reform Bill a Big Step for Internet Gambling in Washington

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A new tax reform bill in the Senate is bringing I-gaming back to light, as discussed in a new report from I-gaming consultancy BolaVerde Media Group.

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We believe the best short-term opportunity to move a pro-Internet gambling measure at the federal level is to make it a funding component for necessary, expensive legislation, particularly as Congress faces this historic budget deficit.

The recent inclusion of Internet gambling regulations as provisions under a new tax reform bill in the Senate signifies an important--and necessary--step for the pro-online gambling movement in Washington, DC. As discussed in a new report from I-gaming consultancy BolaVerde Media Group, history suggests that Internet gambling's advocates on Capitol Hill are now on a track toward enacted legislation.

On February 23, US Senators Ron Wyden and Judd Gregg introduced the Bipartisan Tax Fairness and Simplification Act of 2010, a bill to simplify and reform the US tax code. The proposal includes a number of tax cuts, which the authors intend to offset by regulating and taxing Internet gambling.

"For a variety of reasons, we don't believe this particular legislation shows a lot of promise," BVMG Managing Director Mark Balestra explained. "However, this marks an important step for Internet gambling in Washington.

"We believe the best short-term opportunity to move a pro-Internet gambling measure at the federal level is to make it a funding component for necessary, expensive legislation, particularly as Congress faces this historic budget deficit. Not only does the tax reform bill bring I-gaming back to light in the Senate, it is the first case in which such a policy has been successfully attached to another bill."

BVMG's electronic report, "Internet Gambling on Capitol Hill," demonstrates that the "piggyback" strategy had been used by opponents of I-gaming since 1998 and was executed masterfully in 2006 with the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) as a subsection of an anti-terrorism bill.

The report colorfully and thoughtfully examines the history of U.S. Internet gambling policy and the politicos who have shaped, fashioned and fought the policies past and present. In doing so, it synthesizes practical analysis of Internet gambling policy in Washington today and enables the reader to better understand how current legislative developments are shaping the path for regulation in months to come.

The new report also includes insightful analysis of revenue estimates, profiles the individuals and groups with influence in Washington and explores the potential impacts on every industry sector, from land-based and online casino operators to online sports books and tribal gaming.

"Between 1995 and 2010, 19 politicians have introduced 37 separate Internet gambling bills in Congress," Balestra said. "It's striking to me that while there's been no shortage of political activity, no Internet gambling bill has passed both chambers of Congress as a standalone bill, and just one - UIGEA - passed as part of an unrelated bill and signed into law."

For additional information about this research, visit: http://www.bvmediagroup.com/BVconnection/Reports.aspx

About BolaVerde Media Group
BolaVerde Media Group is a consultancy specializing in Internet gambling, a nascent entertainment medium that, since its birth nearly a decade ago, has blossomed into a vibrant, $23 billion global business. From its base in St. Louis, Missouri, the company provides innovative custom research and analytics, tailored Web-based seminars and tutorials and independent advice and consulting. Its management team has served the industry for a combined 16 years. For more information, please visit http://www.bvmediagroup.com.

Media Contact:
Holly Hick
info@bvmediagroup.com

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Mark Balestra
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