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Online gambling challenges
USA Congressman Jim McDermott has introduced the Internet Gambling Regulation and Tax Enforcement Act, which would tax regulated Internet gambling. He estimates that regulating Internet gambling would generate between $8.7 billion to $42.8 billion in new federal revenues over its first ten years.
McDermott's legislation functions as a companion bill to legislation introduced by Representative Barney Frank which seeks to establish a licensing and enforcement framework for regulated Internet gambling in the USA. That legislation would allow States to retain full control over the regulation of Internet gambling within their borders, applying their own additional taxes, protections and limitations.
Meanwhile, the European Commission is investigating potentially illegal restrictions on online gambling currently in force in Sweden and Germany.
