RED HERRING | Online Poker Rakes in $3.3B

"As lawmakers debate the future of online gambling in the United States, evidence continued to build Tuesday for the eventual regulation of an industry worth tens of billions of dollars.

A new study suggests that Internet poker, if properly regulated and taxed, could net the federal government a hefty $3.3 billion each year. According to the study’s author, Internet poker’s explosion in popularity merits serious consideration.

“It is the major draw in terms of Internet gaming,� said Judy Xanthopoulos. “It’s already responsible for most of the growth.� "