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Investing in Online Gambling

Written By Brian Hicks

Posted April 21, 2009

Let’s keep this short and make some good money.

You see, after weeks of waiting, it’s finally going to happen. That is, so long as Rep. Barney Frank keeps his word.

But if and when he does keep that word, there are two online gambling stocks you must be in. . . no later than today. Already, our two SC Trading Pit recommendations are up more than 20% apiece (after our special report was posted) and are looking like they could run even further.

Here’s why.

The Unlawful Internet Gambling Enforcement Act (UIGEA)— first put in place in late 2006— could be reversed as early as this week. And should that happen as Barney Frank is trying to make it, the United States could reap a $51.9 billion profit over the next 10 years, according to a PricewaterhouseCoopers study. And I’m sure you’ll agree the U.S. could use that money about now.

Frank was the man behind the introduction of a similar Internet Gambling Regulation and Enforecement Act in 2007. But the legislation wasn’t put up for vote, despite having 48 co-sponsors and making it through the House Financial Services Committee.

He then indicated that he would introduce the bill in March 2009. But as the ongoing economic meltdown continued, it hindered other bills from being introduced and addressed.

These days, though, as the 111th Congress begins work under a new administration, Frank has expressed major interest in reintroducing legislation that would counter the UIGEA. He reportedly told the press the bill to license and regulate online poker and Internet gambling would be introduced "after the break, definitely in April," referring to when Congress reconvenes this week.

And, according to Poker News, Franks expressed to the Financial Times his belief that the "chances for the new legislation to become law [are] much better than had been the case for the IGREA, both because of the change in administration as well as because public opinion [is] demanding the right to gamble online.’"

Unfortunately, we can’t share the names of the online gambling stocks here without unfairly pumping the stock. That’s what happens when thousands of readers get your research every day. To get access to these two stocks—each with the potential to be an easy double—simply click here.

Good Investing,

Ian L. Cooper