Bermuda taking an interest in the online gambling market

Last week, during the budget debate in the Parliament of Bermuda, an influential politician of the majority party, David Burt, told members that the archipelago already has the necessary infrastructure to become a major actor in the online gambling industry, which brings in 35 billion dollars per year at the global level.
Consequently, he urged the other Members of Parliament to consider allowing regional land based casino operators to diversify with Internet betting activities, which would significantly increase tax revenue.
David Burt used the example of Gibraltar, whose online gambling industry employed 2,600 local residents and brought in 80 million dollars in taxes in 2013.
Relying on a 2010 report from independent analyst KPMG International Cooperative, he pointed out that the Internet betting market represented one of the most dynamic segments of the gambling industry.
The politician also referred to the Wall Street Journal to report that revenues from Internet betting in Europe last year totaled about $35.4 billion, or five times the revenue of the Las Vegas Strip casinos.