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Gambling and the US Economy

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Gambling can be exciting, but it can also be dangerous. If you win, you could end up rich, at least temporarily. However, it is much more likely that you will end up broke.

In the United States, the online gambling industry had grown to billions of dollars before the Internet Gambling Enforcement Act of 2006 was passed. This law made it illegal for credit cards, checks or other banking transactions to be accepted by online gambling companies.

The law is enforced by federal agencies as well as state governments, and there are civil and criminal penalties for those who violate the law. Before the law was passed, nearly 80 percent of all online gambling revenue came from the United States. This is money that was being removed from the US economy, since most of the online casinos were being run from overseas.

Many online gambling sites offer good promotions to get customers to sign up at their sites and keep using the sites. They are able to make large amounts of money from their American customers, which is usually put into the economy of the country in which the site is located. Costa Rica is a good example. There are many online gambling and price per head sites based in Costa Rica, and the money is pumped into the Costa Rican economy.

This is a good example of the problems faced by the US economy today. The United States is losing jobs and even entire industries to companies that are running from other countries and selling products or services to the American people. This draws money away from Americans to be used to build the economy of another country. This has got American economists, politicians and businesspeople worried. Over 2,500 of these leaders met at the Davos ski resort in Switzerland recently to discuss the situation.

At this meeting, the chief of the International Monetary Fund (IMF) announced that a weekly economic forecast would be made to keep track of the economy. Many business leaders fear that other industries will follow the online gambling industry, leading to more Americans spending their money to support the economies of foreign countries rather than our own.

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Sarah Harrigan has been involved as a player and researcher on online casinos and online gambling since 1996. She has created this site as a safe haven for all gamblers, new and old. With over 2500 online casinos to choose from, the majority being unreputable she felt compelled to use her experience as a player to give back in terms of online gambling tips and strategies. Because of her research background you will find her reviews very honest and refreshing and we hope you will find this site very useful.
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