Thomas Dwyer
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States May Beat Federal Government To Online Gambling Regulations. New Jersey senators took the first step last week in changing the online gambling culture in the US. The senators approved a bill legalizing online gambling, and that approval may have opened the door to many other states exploring the issue. The discussions have already begun in states such as Florida and California, but the depth to which the Internet gaming regulations were defined by New Jersey senators may cause other states to go into the two-minute drill regarding Internet gambling.
The most obvious reason why states would attempt to create their own regulations before the federal government is the tax rate. On a federal level, the tax rate for states would be only around six percent. By regulating the industry themselves, states could require a tax rate of upwards of twenty-five percent. In addition to the tax rate, states around the US will now have a model to base their judgements on.
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