Goldman Sachs bets on legalization and regulation of online gambling industry in US
The reason? …
In a recent note to its investors the firm shows how, by using statistics from PartyGaming, it can be estimated that the existing poker market alone is capable of generating over $1.5 billion. Goldman Sachs says the total possible stake for the US, by maximizing gaming and revenue created, may be as high as $12 billion or more annually.
Can US really miss such a good pot?
Frank and King introduce online gambling legislation
It’s time to regulate gambling on the Internet rather than outlaw it, says Rep. Barney Frank, the chairman of the House Financial Services Committee.
Reps. Barney Frank (D-Mass.) and Peter King (R-N.Y.) introduced legislation Wednesday that, if passed, would create regulatory framework for online gambling in the United States, and that is sure to please poker players. But the opposition is formidable and includes conservative groups that view gambling as exploiting the vulnerable, particularly the poor.
“Internet gambling in the United States should be controlled by a strict federal licensing and regulatory framework to protect underage and otherwise vulnerable individuals, to ensure the games are fair, to address the concerns of law enforcement, and to enforce any limitations on the activity established by the states and Indian tribes,” the 48-page bill reads.
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