Goldman Sachs tells investors to prepare for legal online gambling in the US
Jun 30, 2009
Goldman Sachs, a global investment bank, is predicting that the US will soon legalize and regulate online gambling. This came in the form of a note to investors, urging them to take action on so that they can profit from the upcoming surge in online gambling profits. Regulation means taxation, so if online gambling is legalized in the US, there will be plenty of money flowing in.
The biggest player in the current race to lift the online gambling ban in the US is Representative Barney Frank. His work has two aims – first, to prevent the UIGEA from becoming solidified in December. The UIGEA is the bill (not quite a law yet) that makes it hard for US players to gamble online. Frank’s second aim is to pass a bill that would see government regulation of the online gambling industry.
People are taking notice, and chance seems even closer than ever. Last week Franks cabinet revealed that because of pressing economic matters, his work on legalizing online gambling has been postponed until September. He encourages US players to be patient.
In the meantime, although many online gambling companies have pulled out of the US market, a few remain, and there are still places where US players can gamble online. We’ve checked out a lot of these sites, and you can read our impressions of them here. US players might have more choices in the near future, but until then, there still some good options available.
Tags: and Enforcement Act, Barney Frank, Consumer Protection, Entertainment, Gambling, Goldman Sachs, Internet Gambling Regulation, investment bank, Online gambling, Online Vegas! Goldman Sachs, player, Poker Players Alliance, Representative, SAFE Port Act, United States