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Thu Feb 26, 2009 2:58pm GMT By Doug Palmer
WASHINGTON (Reuters) - The United States could raise nearly $52 billion in revenue over the next decade by lifting a three-year-old ban on Internet gambling and taxing the activity instead, according to a study.
Gambling supporters hope the new analysis prepared by accounting firm PricewaterhouseCoopers will help propel efforts in Congress this year to repeal the 2006 Unlawful Internet Gambling Enforcement Act.
"There is a dramatic need to have a regulated system that protects American consumers. Right now, it's the Wild West," Jeffrey Sandman, a spokesman for the Safe and Secure Internet Gambling Initiative, told Reuters on Wednesday.
That group includes the London-based Remote Gambling Association, which represents European online companies that lost billions in market value after Congress passed the 2006 law and they withdrew from the U.S. market.
The legislation attempted to squash online gambling ...