Those laws could change. The New York-based financial services institution Morgan Stanley estimates that online gambling in the United States will generate $2.7 billion in revenue by 2020. Morgan Stanley believes 15 US states will legalize online casinos and poker sites by that time. The number is down from previous estimates but shows the financiers still believe American gambling is headed in an upward direction.
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The PA Senate passed a bill to legalize online poker, online casino games, daily fantasy sports, and sports betting on Oct. 26. Gov. Tom Wolf signed it into law just three days later. The bill, H 271, enacts widespread gambling expansion that extends beyond just PA online casinos.
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Sheldon Adelson, the chairman of Las Vegas Sands Corporation, wants to ban all US online gambling. To that end, he has lobbied the U.S. Congress to pass “Restore America’s Wire Act”, often shortened to “RAWA”.
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