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There has been a lot said and written in the poker media concerning the legal battle between online poker and the American government, an industry that potentially could generate $3.3 billion annually in tax revenue. A recent study could play into the upcoming debate of American legislation which could ban online gambling.
Income tax on the $60 billion in wagers on internet poker sites world-wide could generate an estimated $2.5 billion in revenue alone. The study was completed by the Poker Players Alliance a lobby group fighting against the recent legislation.
"The majority of the revenue that's generated would be from reporting of poker winnings," said Michael Bolcerek, president of the group.
The Poker Players Alliance also found that a one percent user fee on poker transactions could generate an estimated $800 million to $1 billion in revenue.
The proposed legislation would ban credit card and banking companies from handling money transactions with any known online betting site. Online gambling is one of the world’s fastest growing industries with an estimated 15 to 20 percent growth every year.
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