Everyone in the online gambling industry is hoping that the new Obama administration will see sense in the fact that online gambling will bring in substantial revenue to the ailing country.  As the chief of the American Gaming Association, Frank Fahrenkopf, said over the weekend “There have been projections circulated on the Hill that it can raise billions of dollars in new federal revenue, so we can expect that the whole issue of internet gambling will be front and center in the next Congress”.

If you still have some cash to spare and are thinking to invest it, think about buying stocks in the online gambling sector.  Believe it or not they are doing better than land-based casino stocks.  Despite the online gambling companies’ stocks falling in 2006 in the US and the stock market fiasco earlier this year, there has now been a terrific turnaround and the prediction  is that these stocks are worth investing in.

Despite valiant efforts by Republican Barney Frank to overturn the UIGEA bill and make the internet gambling industry legally regulated in the US, it appears that the Treasury Department of the Bush administration have been drafting their own regulations and are hurrying to get them implemented while the Bush administration is still in force.  In effect their implementation would ban online gambling in the US, the only exemptions being horse race betting, interstate online lotteries and betting on fantasy sports.

Many online bingo sites in the UK are allowing online bingo players to bet on who will be the next US president.   Obama seems to have a good lead, but to be honest it’s anybody’s guess who will be voted in.  Obama has remained uncommitted regarding his stand on online gambling (online bingo, casino, poker or sportsbetting, whilst McCain appears to be sympathetic to the issues.