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вЂњIn doing so, they have built brand name recognition and a strong customer base at the expense of American casinos and Indian tribes, who would have been shut down had they engaged in the same activities.вЂќД«y allowing Internet gambling, these gambling profits - and the associated jobs and tax revenues - would come back home.ДЄccording to a Joint Committee on Taxation tax revenue analysis, regulated Internet gambling may generate as much as $42 billion in federal government revenues over its first 10 years.ДЄnd H2 Gambling Capital predicts that Internet gambling regulation would create as many as 32,000 jobs over its first five years. вЂњFor years, overseas sites beyond the reach of US law enforcement have offered Internet gaming to American customers in violation of US laws,вЂќ Tom Malkasian, Vice Chairman of the Board at the Los Angeles-based Commerce Casino, told the House Financial Services Committee. It still has to be approved by both houses of Congress.ДЄlthough there are moral and philosophical arguments on both sides of the debate, one factor promoting legalization is that the US regulators have not made significant impact in stopping online gambling - theyвЂ™ve just moved to action to foreign jurisdictions.ДЄccording to a recent analysis by H2 Gambling Capital, US-based gamblers have spent around $7.7 billion between 20 in overseas gambling sites. regulators are also working on new online gambling legislation - may provide an extra boost to this sector.ДЄ bill legalizing and regulating online gambling was approved by the House Financial Services Committee a month ago, with bipartisan support. The fact that regulators in Canada have approved online gambling - and U.S. ItвЂ™s not a surprise that hese two vices are helping drive the move to a 3D Internet. Pornography and gambling helped drive the adoption of the World Wide Web. Utherverse and other proprietary platforms are not currently compatible with hypergrid, but this may change in the future.

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Currently, about half of all public OpenSim grids are connected via the hypergrid, allowing full teleports between different worlds. OpenSim also allows casinos to be accessible via the hypergrid. There are at least two groups currently developing casinos for the OpenSim platform - which allows a casino to be hosted on any server, anywhere in the world, just like a Website. вЂњWe anticipate a rush of development of next-generation casino games that lend themselves to the multi-player environment.вЂќ вЂњThese casinos operate according to the laws of their jurisdictions,вЂќ Shuster said. Since no cash changes hands, the Tiberius isnвЂ™t subject to regulatory oversight.Д«ut for those who are located in jurisdictions that do allow online gambling, the Red Light Center is also home to real-money casinos, such as the Golden Palace. вЂњChips cannot be cashed out for anything, though they can be used to obtain virtual world properties and to send virtual gifts.вЂќ вЂњThe Tiberius Casino is a play-for-fun casino, so users play with chips,вЂќ Utherverse CEO Brian Shuster told Hypergrid Business. Brian Shuster, CEO of Utherverse Digital Inc. UtherverseвЂ™s latest offering, Tiberius Casino, is part of the Red Light Center, and offers slot machines and table games in an immersive environment. is the company behind the Red Light Center (not safe for work), which claims over 6 million registered users, and the Virtual World Web, which claims to host over 30,000 private worlds - and its marketing focuses on the adult aspects of the platform. Meanwhile, Utherverse hopes that casino operators will take a look at the platform and consider it for their casinos. While the winnings cannot be converted into cash today, that might change if a new gambling bill is able to make its way through Congress. Utherverse, a proprietary virtual world platform known for its adult content, has launched a virtual casino targeting US customers.