Analysts for Moody’s Investors Service, a Wall Street ratings service recently reported that there is a chance that internet poker might be legalized in the United States under the federal law of individual states after the recent events that occurred on ‘Black Friday’.
Online gambling is not a threat to land-based casinos but it is believed that individual states would try to use the federal laws to legalize internet gambling (especially internet poker) within The US. This will be because of the popularity of internet poker and also due to the fact that it is the most lucrative choice they could make.
Internet poker is estimated to be a $4 – $6 billion business on an annual basis and the casino industry uses internet poker to increase its customer base. Therefore, if the US states take up the legalization of internet gambling and US poker then the USD poker room and US casinos stand to benefit.
The companies will reap the benefits depending on the pre-existing established brands in the online gambling industry, for example Caesars Entertainment that operates the World Series of Poker, would benefit more than others. This is because it is already a well-known brand and is in partnership with the British online gaming company 888.
Even online casinos are of the same opinion since they think the legal actions against the poker giants could lead to legalization and regulation of internet gambling. Such shutdowns by the government do not stop the American poker players from wanting to play online poker. Instead legalizing US online poker and bringing more revenue to the states is a better deal.
The US online poker sector is a muddled opinion pool; and while there are politicians opposing US online poker legalization and states that prohibit US online poker, there are also are states who want to monitor US online poker. There are also several ambiguities in the federal UIGEA law that allows many legislators and casino operators to believe that the legalization of online gambling can be attained.
Several US states are trying to close large budget deficits, and hence the tax revenues from legalized gambling and US online poker are far too lucrative to be ignored by such states. The lawmakers in Nevada are still considering the Assembly Bill 258 that was backed by PokerStars. And now several states have proposed a legislation regarding the legalization of US online poker. US online poker players may not be able to gamble for money very soon but they might be able to play soon enough.