WinnerOnline-Editorial

Imitation is the sincerest form of flattery and it looks like Bermuda could be following the likes of Costa Rica and Antigua and Barbuda.

According to a report in Bermuda's Royal Gazette the tropical island is giving serious consideration on whether to become an online gambling hub like the aforementioned island nations.

If it did decide to become a center for online gambling, "it would mean gamblers abroad, most likely from the U.S., 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," Tim Smith fo the Gazette reported.

The move would certainly give an "adrenaline shot" into the local economy.

In 2000, Antigua and Barbuda reported that its online gaming sector contributed $37.5 million to local coffers through taxation and employed in the neighborhood of 3000 people.

But establishing an online gaming sector could come with its headaches too.

The United States passed anti-online gambling legislation back in 2006 and there have been a number of indictments and arrests associated with it.

An online gambling study is said to be in the works.