USA Online Gambling Predicted Worth $12bn

01.07.2009, The Goldman Sachs Group, Inc., or as they are known Goldman Sachs has been around for a long time, since 1869 as a matter of fact.

The firm has offices in all global financial centers and has been actively involved in advising governments,wealthy families and corporations on where to put their money. In a recently published report the company has predicted that America will legalise online gambling to create a combined U.S. online poker and casino market worth up to $12bn,usd.

"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," the investment bank commented. "Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially," The firm stated that progress on changing the legislation prohibiting online gambling in the U.S.A. will be very slow on the federal level. It also said that progress on changes regarding the laws will progress faster on the state level, as U.S. states such as Florida and California move to capitalize on the online poker trend to raise much needed revenues from taxes.

As of 2006 Goldman Sachs employed 23,467 people worldwide, with reported earnings of US$9.34 billion. Goldman Sachs was the largest financial contributor to the Obama election campaign. Former Goldman Sachs employees such as Henry Poulson and Robert Rubin have held high positions in the federal government, regardless of which party was in the White House. With this kind of inside edge it is very possible that the assumptions made by this major investment bank are accurate and true.Goldman Sachs has played a major role in advising states on how to structure privatization deals all the while positioning itself to invest in the deals. leading to conflict of interest allegations.While Goldman Sachs has predicted the outcome will be a positive one for those companies positioning themselves to take advantage of new rules in the USA other companies are predicted to not do as well. Everything that the firm is assuming is based on the current legislation before congress passing without some form of amendment. It is hoped that these predictions are based on solid research.

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