The economic benefits of scratchcards have been well recognized worldwide. For legislator’s the format of the scratch game makes their decision to legalize online gambling a lot easier than other forms of gambling.
Scratch cards on the one hand are a very lucrative form of online gambling in terms of tax revenues for the states. Yet on the other hand their social impact is not offensive to many groups such as religious groups who oppose online gambling on moral grounds.
The fact that online scratch cards are very cost effective and do not require players to squander large amounts of money which would otherwise be spent on essential items means that the scratch cards design could be sold to the politicians as a responsible form of gambling.
The American Gaming Association has just released their latest impact study for the US land-based industry.
As expected the revenues generated were impressive with over $125 billion in revenues for 2010 which gives a lot of encouragement for the opening up of the online gambling market.
The latest report released by the AGA is in tune with national developments in the U.S. gambling market in light of the new stance of the Department of Justice in the Wire Act of 1961 which up till now was the main stumbling block for legalizing interstate and online gambling.
Until now the right for U.S. scratch card fans to enjoy their chosen scratch games has been denied. It is only now that the U.S. scratchies market I seemingly about to burst.
This comprehensive report is the first of its king in over 15 years and is titled “Beyond the Casino Floor: Economic Impacts of the Commercial Casino Industry”. The report was commissioned by the Brattle Group of Washington DC who includes leading economic experts and consultants to major corporations and governments.
The report showed that casino gambling made up about 1% or $25 billion of the US GDP on 2010. More importantly there were over 820,000 jobs created by over 566 casinos throughout 22 states.
In these trying economic times it is not difficult to see the positive impact online scratchcards would have on possible job creation.
The scratch games marketplace already has a loyal base of millions of scratchcards aficionados who are just chomping at the bit to be allowed to scratch and win in their own backyard.
CEO of the AGA, Frank Fahrenkopf stated,” There is no doubt the commercial casino industry is a significant and vital part of our nation’s economy. The industry generates and supports economic activity that stretches far beyond the communities that host casinos and into the greater American economy.”
The allure of the scratchcards gamesis worldwide as it has the winning formula of being cost effective on the one hand yet very rewarding on the other.
Besides the direct revenues that the 22 states enjoyed from direct gambling, Fahrenkopf was quick to point out that over $76 billion was generated indirectly with spending of suppliers and other businesses associated with the casino industry.
With the U.S. economy in recession this comprehensive report should be a major factor in helping the Government decide on the future on online gambling and more importantly the massive potential to provide employment and an economic boost to the nations battling economy.
Scratchcards revenues would go a long way in boosting many social projects such as health and education. The potential of gaming tax revenue is unlimited due to the fact scratchies are gaining popularity on a daily basis worldwide.
The US is one of the leaders in online gambling technology and innovations with Silicon Valley being a major international player in this field. The ability of many technology companies to create many new and diverse apps for the online gambling sector which is one of the faster growing industries in the world is yet another factor in boosting employment and economic growth. The benefits of legalizing online scratch cards are too many to mention but there is no doubt their accessibility along with their ability to adapt to any changing environment makes scratch cards a dominant force to be reckoned with in the online gambling world.