Goldman Sachs says Start investing in Poker
Goldman Sachs has been successfully advising the government, corporations, and rich people on how to invest their money since 1869. So when this company says that there is a huge billion dollar trend coming then many investors tend to listen.
If the United States does end up legalizing online poker, and even Internet gambling in general, then Goldman Sachs thinks there will be a $12 billion industry open up in the US. The large bank went on to say, “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.”
I don’t know a whole lot about investing, but it might be a great time to start learning and investing in some of these online poker rooms in case the game does get totally legalized as expected. Of course it’s difficult to predict which companies will experience the biggest boom if the US does lift certain sanctions. After all, Party Poker was once the dominant name in the game based on their huge presence in the United States.
Odds are that PokerStars would still be top dog in the online poker game - even with the US opening up. However, Full Tilt has so many well-known American players on its roster that this could give them a boost in the US market. We could even see Party Poker make another rise since they did so well in America before the UIGEA was put into effect in 2006.
Whatever the case may be, I just hope that the UIGEA gets lifted sometime soon since votes on it seem to be getting put off over and over again. September is supposed to be the next time they’ll look into the matter, but we’ll see about that.