Global investment banking Goldman Sachs has predicted that online gambling will soon be legalised and regulated in the US despite the slow progress of Congressman Barney Frank’s proposed Internet Gambling Regulation.
Based on a simple ‘grossing up’ of PartyGaming’s rake relative to its nine percent market share, the US poker market alone was worth $1.5 billion in 2008.
Also based on an assumption of 30 percent penetration of offline poker players and $300 gross gaming revenue per player, we estimate that a legal poker market could be worth three billion dollars a year.
