Government eyes Internet gambling as source of revenue - Royal Gazette

[I Heart Gambling Online]

Bermuda could tap into a market worth billions of dollars — but also enter an international legal row — by becoming an offshore host for online gambling.

The Island is currently assessing its suitability as a centre of Internet gaming, following a path taken by rival jurisdictions including Antigua and Barbuda and Costa Rica.

It would mean gamblers abroad, most likely from the US, having their wagers processed in Bermuda — giving the betting companies tax breaks on profits and keeping them out of reach of anti-Internet gambling American authorities.

Several years ago, Antigua turned to Internet gambling — a $12 billion global business — as a way to end its reliance on tourism, a problem Premier Ewart Brown is equally keen to solve in Bermuda.

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