Online Gambling Economic Benefits
Business World Online reported today that Internet gaming companies saw nice profits in 2008, as the news site used the Philippines as an example of what is taking place in countries friendly to online gambling. According to the article, Pacific Online Systems Corporation, the online lottery operator owned by the Philippines government, posted a forty-eight percent increase in revenues last year over 2007. In the meantime, the US continues to attempt to enforce the UIGEA ban against Internet casinos, and the government spends money to harass and persecute foreign online gaming operators in good standing with such organizations as the London Stock Exchange. By preventing itself from exploiting the revenue and economic advantages available through legalization and regulation of the online gambling industry, the US has blocked a revenue stream that could contribute billions at a time when important social programs are cut back or canceled due to lack of funding. Further, jobs created could only help the looming unemployment debacle in the US. While many industries are downsizing and laying off employees, online gaming legalization would surely lead to operators basing in the US, bringing much-needed jobs with them. 
Philippino officials echo the words of other online gambling executives around the world, noting that a need for entertainment will always exist and adding their expectations of continued growth in the gambling sector. It’s too bad the US can’t enjoy the benefits of well-regulated, locally based Internet gambling. Even if you are against poker, no one is forcing you to play, but you will benefit from the taxes collected from those who do. We have to realize that gambling is never going away, and we must also realize that it is better to regulate it than to prohibit it. Because prohibitions do not work.