- Daily Zen
Internet gambling is becoming a tidbit for many companies, including casinos, as it has been legalized in three states, and other state authorities are seriously considering the legalization of it on their soil. The interest is even bigger as the first legal pay-to-play poker website has been launched. Casinos are observing the new scene with interest as they are eyeing online gambling which might become their next gold goose.
With the first pay-to-play poker website launched on the 30th of April, all interested parties are watching the outcomes of the new venture of Las Vegas-based Ultimate Gaming. This new website offers online poker to people staying in Nevada (that is a must). But it seems that also other similar websites are going to spring up like mushrooms as two other states, New Jersey and Delaware, have also legalized Internet gambling. With quite fast money, other states have also been considering the legalization of online gambling as it will be an easy way of filling empty pockets with cash coming from a new source of revenue, which is without a doubt a cash cow.
It seems that Internet gambling has become a permanent element of the gambling picture in the United States. This can only be changed by the federal authorities, analysts underline.
But what does Internet gambling mean for casinos which have been props of legal gambling? Will Internet gambling be a fierce competitor to traditional casinos ? Analysts underline that casinos are not in danger as there are two types of players, first type highly dedicated to traditional gambling and its splendor, second one preferring online games.
But today’s online gambling raises questions regarding age verification, geolocation software and many more. The first online casino, which is operated by Las Vegas-based Ultimate Gaming, will face many challenges as it is simply a pioneer in Internet gambling. The significance of the venture was underlined by Tom Breitling, the Ultimate Poker chairman, who noted that the company would be facing “huge responsibility.”
With emergence of Internet gambling, casinos eye the possibility of entering this new sector. Among casinos interested in online gambling is MGM Resort International. Dan D’Arrigo, chief financial officer at MGM International, highlighted that the company was still considering the possibility of entering the online gambling market in the state of Nevada.
It seems that casinos might be more interested in entering Internet gambling when the US government introduces federal regulations. But the fact is that casinos will be also interested in launching online gaming websites in case of the emergence of state compacts.
In case of the federal regulation or emergence of state compacts, casinos would witness bigger profits and it would be much easier for them to operate. Casinos will likely bet on online gambling, but the question is when they will decide to enter the new sector.