BGN Entrepreneur

As the UK becomes the latest country to try a little austerity, it is ever clearer that there is little room left for high-minded public policy when cash is at stake.
In the US, for instance, possible new regulation and prohibition against menthol cigarettes seems likely to be stubbed out.
The $4.5bn of federl taxes from menthols, and $6.8bn in sales and excise duties paid to states, are powerful reasons to live and let live.
Campaigners for regulating and taxing currently illegal drugs are also starting to find a sympathetic hearing from politicians. Meanwhile, liberalising gambling is less radical and easier to pass.
At the same time, several states are already loosening restrictions, and the House financial services committee is considering bringing online betting onshore.
Chief among these would-be sins is poker, which is banned unexpectedly in 2006 by an amendment to legislation on port security. Listed European poker sites were foced to withdraw but private companies have continued to operate surreptitiously in a US market that has now grown to about $5bn of online gambling revenues annually. It is estimated that the market would grow to $12bn to $16bn by 2014 with federal regulation.
A return to the world’s largest market would also do wonderful things to share prices for the listed online gambling operators.

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