Paramount had no comment.
Karel Reisz directed the original film, which starred James Caan as a a literature professor whose gambling addiction lands him in hot water with his girlfriend, his mother and some unsavory gangsters.
Screenwriter James Toback based the original film on his own life, though Oscar winner William Monahan (“The Departed”) penned this new version of the crime drama, which follows a similar trajectory. Irwin Winkler, a producer on the first film, will produce this one as well.
Goodman is an iconic actor who has worked tirelessly for three decades. In addition to “Llewyn Davis,” he played the heavy in “The Hangover Part III” this year. Goodman also had an uncredited cameo in “The Internship” and reprised his beloved role of Sully in Pixar’s hit sequel “Monsters University.”
Additionally, Goodman starred in Amazon’s first original comedy series “Alpha House,” and he’ll soon be seen alongside George Clooney and Matt Damon in “The Monuments Men,” which Sony opens in February.
Paramount plans to release “The Gambler” in 2015.
Goodman is represented by the Gersh Agency and attorney Amy Nickin.