Home >Goldman Sachs: US Will Legalize Online Casinos

In a note to their investors last week, American investment firm Goldman Sachs recently predicted that the United States Government will legalize online casinos in order to reap the benefits of what they say will be a $12 billion marketplace.

“We believe it is logical to assume that the US market will eventually regulate – given the potential implications for US tax take, if nothing else.”

“Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially,” they said, “Based on an assumption of 30% penetration of offline poker players and $300 gross gaming revenue per player, we estimate that a legal poker market could be with $3 billion.”

Further, Goldman Sachs had this to say, “Were GG R to increase to 45% per player rise to $400, the size of the poker market alone could be worth $6 billion.”

As economic woes continue to plague the state and federal government, such a substantial market of untapped resources is difficult to ignore.

But don’t go putting on your party hats just yet. Though the bank sees the change coming down the road, how far remains in question. Recently hearings on legislation aimed at overturning the UIGEA have been delayed until September. In addition, it was pointed out that federal regulation of online casinos could/will take quite some time and that efforts to regulate would move along faster at a state level.

Still, Goldman Sachs has been advising governments, corporations and wealthy families on financial matters since 1869 and such a prediction should be taken as nothing but good news for online gamers.