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| | | It is possible for a craps player to narrow the house edge to 0.03 percent. This depends on the amount of free odds allowed, but a player who backs a pass line wager with the 100x odds now available at the Empresses in Joliet and Hammond lowers the overall house edge even a shade more than the lowest choice given, to about 0.021 percent. | |
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| | | | | 12 Jul 2006
Even as the United States Congress prepared to hear legislation effecting a ban on online gambling, a new study confirmed what many online casino advocates already knew in their hearts - that regulating, instead of banning, online gambling sites could bring the United States government a significant amount of revenues in the form of taxes. News of the pending debate set off speculation even on mainstream financial news outlets over the future of stocks on the London Stock Exchange which are connected with online gambling firms.
Regulating online poker could bring the U.S. government some $3.3 billion in taxes annually, according to the study released on Tuesday, ahead of that expected debate in Washington over legislation to ban online gambling. The study also said that a 1 percent user fee on online poker transactions would generate another $800 million to $1 billion in revenue per year for the U.S. government. Income taxes on winnings from online poker alone - which is estimated to have attracted $60 billion in wagers worldwide in 2005 - could amount to $2.5 billion each year.
Authors of a bill expected to be debated in the U.S. House of Representatives on Wednesday, say their legislation would clarify that point for prosecutors. It would also prohibit gambling businesses from settling online wagers with credit cards, checks or fund transfers. Among Web sites used by U.S. players to gamble are those run by UK-listed companies such as Party Gaming Plc and 888 Holdings. The online poker market is projected to grow 15 percent to 20 percent a year. |
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