After years of pressure, the Japanese government may finally be conceding that the legalization and regulation of its online gambling industry is a positive step.

Unconfirmed reports showed that a number of top Japanese legislators have met with online gambling companies in a bid examine the possibility of drafting a law that would legalize this pastime once and for all.

At present, only lotteries and horse racing wagers are permitted online in Japan, although a large number of Japanese citizens enjoy casino games, poker and bingo through offshore sites. The government wants to tap into the huge potential of revenues that can be collected from a regulated industry through taxation. It goes without saying that online gambling operators are keen to get a foot into this lucrative new market, especially considering the wealth per capita that is enjoyed by Japan’s citizens.