PPA Ad Campaign in DC

The Poker Players Alliance launched an ad campaign today in three DC papers. The full story can be seen here.

It mainly continues to spin the recent 60 minutes expose on internet gambling cheaters into a call for regulation. Those on the side of legalization have done an excellent job of turning that story into rallying cry rather than a devastating blow to their cause.

The part I found most interesting is below. This is a direct quote from the Poker Daily News story:

"A 2007 study by PricewaterhouseCoopers (PWC) attempted to estimate the amount of revenue that could be raised by taxing the industry. The study is based on HR 2046 (the Internet Gambling Regulation and Enforcement Act) and HR 2607, which taxes the industry 2% of deposits. PWC found that if sports leagues opted out, as did a high percentage of states, then about $8.7 billion could be raised from the internet gambling industry. Assuming a low number of states opt out, the number was more than doubled. If sports leagues elected to have regulated online wagering on events and only a few states bowed out, then as much as $42.8 billion could be raised over 10 years from the internet gambling industry."

I don't care how much you hate gambling, you have to like $42.8 billion in tax revenue.

The article also hints towards the fact that Rep. Barney Frank is already working on legislation to legalize internet gambling. He is definitely the greatest force behind the legalization of gambling, so be prepared to hear his name quite a bit in this blog.