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Goldman Sachs Predicts US Online Casinos Will Be Legalized

July. 02, 2009


In Goldman Sachs latest memo to investors, it has been predicted that the US will legalize and regulate the online casino gambling industry. It is another example of how a growing number of people believe the legalization of Internet gambling is inevitable.

Representative Barney Frank has introduced two pieces of laws regarding online gambling. The first would be to postpone the rules from the UIGEA from going into effect in December.

The second is the more intriguing Bill for online casinos. The laws calls for legalization and regulation of online gambling in the US. Frank has tried before to overturn the UIGEA, but his latest effort appears to have much more support, and people are taking notice.

"We believe it is logical to assume that the US market will eventually regulate," wrote Goldman Sachs in a memo to investors today, "given the potential implications for US tax take, if nothing else."

There is a strong possibility that online poker is legalized in several states before the US government makes any changes to their laws. Frank's House Finance Committee is focusing their attention on the economy, so the Internet gambling debate has been delayed until at least September.

Even with the delay, Frank insists that the laws will be passed, and suggests that online casino players in the US be patient. Online poker players received a jolt a couple of weeks ago when the US government seized bank accounts that held money for US player payouts.

Several online poker rooms had briefly stopped accepting deposits, but as of late last week the sites were once again taking the player deposits. The move by the government may have backfired, with more people in the US now joining the call for the right to bet online.

Good Luck

From the Online Casinos USA team


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