Monday, June 29, 2009

Goldman Sachs Predicts US to Legalize Online Gambling, a $12 Billion Market

As reported by EGamingReview, a Goldman Sachs report predicts that the US will legalize online gambling, creating a $12 billion market. Not that this market doesn't already exist, but now the revenues can be captured (and taxed) legally.

The article focuses on poker and other casino games, and is silent on sports betting. That is where the REALLY large revenue lies. There have been old estimates from law enforcement that up to $1 billion is wagered illegally each week during the NFL season. That doesn't include any other sport, Super Bowl, March Madness, etc. Given the current politics, legalizing online poker and casino games is the easiest first step, not that you should diminish the prospect of legalizing a $12 billion market!

This prediction that online gambling will be legalized isn't that much of a stretch given the Democrats control both houses of Congress and the White House. There are polls and studies that support legalization. A post that discusses a poll supporting legalized online gambling can be found here. A post that reports on the university study recommending legalizing online gambling can be found here. In addition, this blog has other posts regarding this topic.


Add to Technorati Favorites

4 comments:

Aion Power Leveling said...

Nice post. Really I liked it.

Thanks

YouGaming Inc said...

You're welcome! Thanks for checking out the blog!

AMIT said...

Gambling should not be legalize but than also online gambling is played on large basis.

Lawyer directory

YouGaming Inc said...

Gambling is an activity very widespread in the US, so making it illegal will only drive it underground, similar to what happened in the US when the attempt was made to ban alcohol.