It is only a matter of time before online casinos are completely legalized in the United States.  There is just too much money to be earned.  The investment bank Goldman Sachs believes that the federal government will overturn the Unlawful Internet Gambling Enforcement Act sooner rather than later to benefit from the billions of dollars that a regulated online gambling industry in the United States could be worth.

This may be the reason why Representative Barney Frank may be so certain that online casinos will be legalized in the United States by the end of the year.  As chairman of the House Financial Services Committee, Frank has been very much involved in the process of trying to pull the country out the economic mire.

According to estimates from Goldman Sachs, a regulated online gambling industry in the United States could be valued at $12 billion dollars.  Regulated online casinos would be helpful to all.  Regulation in the United States would lend further credibility to an industry that is already successfully growing all across the globe. 

There are already millions of Americans dedicated to online gambling despite the risks gambling in an industry that is not regulated and offers no consumer protection in their country.  These citizens deserve consumer protection.

The billions of tax dollars that would come annually from online casinos is exactly the sort of revenue stream that the federal coffers need and are looking for as we stagger our way out of this economic recession.  Online casinos have a lot to offer the United States.