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Good Signs for US Online Poker Industry
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 July 2 - Goldman Sachs, the hugely respected investment bankers, have issued an interesting note to their investors, predicting the future of the online poker and gambling markets in the United States.
According to a report, the note sent by the business analysts, predicts that the United States will regulate and legalize these industries that are worth up to $12 million a year.
"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," reads the note.
Investors were explained about Barney Frank's attempts to introduce legalization that will change the face of online poker and online gambling in the country. These attempts would hopefully nix the current Unlawful Internet Gambling Enforcement Act.
"Based on a simple 'grossing up' of Party Gaming's rake relative to its 9 percent market share, the US poker market alone was worth $1.5 billion in 2008," said the note.
"Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially. Based on an assumption of 30 percent penetration of offline poker players and $300 gross gaming revenue (GGR) per player, we estimate that a legal poker market could be worth $3 billion a year."
"Were GGR to increase to 45 percent and GGR per player rise to $400, the size of the poker market alone could be worth $6 billion," said the note. "We also estimate that the casino market could expand to a similar scale, based on various offline penetration assumptions."
The note also pointed out that poker would first be legalized by a number of states independently before the federal government makes any changes on a national level.
Looks like a great time to buy stock in Party Gaming, listed on the London Stock Exchange and trading lower than what we bought it for a month ago!
Read our Party Poker Review.
Related Poker Articles And News Items:
> PPA Launches National Poker Week
> California Could Introduce Intrastate Online Poker
> Get Ready for Poker in the Park III
> Centaurus Celebrates Two Years
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