The United States Virgin Islands had a vote to approve changes of the online gambling laws. The vote was in favor to change the laws and now the Internet Gambling Act is well on its way to being finalized within the Virgin Islands. The vote was passed with a 10-4 favor, this new act will be forwarded down to the governor to be signed. If the governor chooses to sign the law online gambling will be legal within the Virgin Islands.
If this new online gambling act is placed into law then the wall will challenge and change the USVI online gambling laws. These USVI Gambling laws acts as a monopoly effect within the islands.
This also allows the USVI to gain all of the commission from online gambling that is currently allowed in the Virgin Islands. This is something that effects the US Virgin Islands greatly as the commission go be going towards the better of the Islands.
Applications and Licensing fees for online gambling operators will cost them $10,000 for the application and $25,000 for the licensing fees. If approved all online gambling operators in the US Virgin Islands will have to pay a 1.5% tax.
The US Virgin Islands has technically had online gambling legal since 2001. The only problem was that the USVI had total control of who got to operate as a online casino and that gained all of the profits. This new legislation will allow for the islands to gain the profit and better the 106,000 people who live their.