Donald Trump wants in Online Gambling

October 22, 2011 | by admin | posted in news

US online gambling seems to be getting a strong vote of confidence from business mogul Donald Trump since he’s making plans to start an online casino and/or poker site. Trump’s plan is to align with his daughter Ivanka Trump and New York hedge fund manager Marc Lasry to make the online casino a reality.

Of course, the big roadblock standing in the way of this proposed real money online casino is the United States government because the activity isn’t currently legalized/regulated in America. However, the US government is seriously considering legalizing online gambling some time soon.

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Of course, there is no definite timetable on when online betting will be legalized in the US, so it will be interesting to see when Donald Trump can move forward with the proposed online casino. His daughter, Ivanka, seems pretty confident about legalization/regulation happening soon since she told reporters, “It’s just a matter of time. It would be a tremendous source of taxable revenue for states or the federal government and an enormous generator of jobs.”

Donald himself believes legalization is bound to happen in the near future as well since he told the press, “This has to happen because many other countries are doing it, and like usual, the U.S. is just missing out. It seems inevitable, but with this country you never know if it’s inevitable.” He added, “We have been looking at this for a while. We have the hottest brand in the world according to many and we think we will do extremely well because of the Trump brand.”

At the moment, online gambling is a gray area in the United States, but offshore sites continue to take American players. And the United States’ main problem with this is that they don’t make any tax revenue from the business. However, regulation would give them a major cut of the online betting profits that sites are making.

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