http://www.latimes.com/news/nationworld/nation/wire/sns-bc-us—caesarsentertainment-onlinegambling,0,3521706.story

I’ve long told friends privately that the only way that the laws regarding online gambling would become more liberal is if significant lobbying was done by the major established casinos.  It’s very good news that both Caesar’s and Wynn are actively lobbying for laws that would legalize, regulate, and tax online gambling.

I also think it’s a great idea for this to happen at the state level instead of federally.  The amount of revenue generated by taxing online gambling would be relatively insignificant to the federal government, but immensely helpful for states looking to balance their budgets.

Ideally this would happen in a state that isn’t Nevada, as regulating the industry from there is more likely to add to the stigma of gambling rather than reduce it.  There are plenty of states with budgets that could use a new source of revenue (I’m looking at you, Illinois).  I don’t think the politics would be particularly difficult either; think about all the teachers and firefighters who won’t have to be laid off now that this billion dollar industry is relocating to our state!

(h/t: www.chisness.com)