Casinos Now See Online Gambling as a Better Bet

[BingoT]

Casinos Now See Online Gambling as a Better Bet
Many of the country’s largest casinos, long opposed to gambling games like poker on the Internet, are now having second thoughts.

Although online gambling is popular with millions of Americans, it is illegal in the United States, and the casino industry has considered it a threat.

But a trade group that represents major casinos like Harrah’s Entertainment, MGM Resorts and Wynn Resorts is working on a proposal that would ask Congress to legalize at least some form of online gambling, the group’s chief executive said.

The group, the American Gaming Association, issued a statement in the spring suggesting that online gambling could be properly regulated — the first public indication that its hard-line stance was softening.

http://www.nytimes.com/2010/10/04/bu...ling.html?_r=1
By BARRY MEIER

[vinylweatherman]

Casinos Now See Online Gambling as a Better Bet
Many of the country’s largest casinos, long opposed to gambling games like poker on the Internet, are now having second thoughts.

Although online gambling is popular with millions of Americans, it is illegal in the United States, and the casino industry has considered it a threat.

But a trade group that represents major casinos like Harrah’s Entertainment, MGM Resorts and Wynn Resorts is working on a proposal that would ask Congress to legalize at least some form of online gambling, the group’s chief executive said.

The group, the American Gaming Association, issued a statement in the spring suggesting that online gambling could be properly regulated — the first public indication that its hard-line stance was softening.

http://www.nytimes.com/2010/10/04/bu...ling.html?_r=1
By BARRY MEIER

Maybe the UIGEA has NOT lead to the expected increase in trade for the land casinos because players have quit, rather than switched. Much of the arguing behind UIGEA was based on "gambling is bad, so needs to be made harder", even though this was NEVER the REAL reason why it was implemented. Players seem to have taken this literally, and have quit land casinos as well as online. If you believe gambling is bad, then ALL gambling is equally bad.
On top of this, the "credit crunch" has made people feel much poorer, and activities such as going to the casino are getting cut. Those that still go probably spend less, and even high rollers may have suffered huge losses on their investments, so will not be playing with such large amounts of money as before.

Online gambling, on the other hand, would allow land casino companies to gain access to other markets without the need to invest in new land casinos. Placing a server in Malta is far cheaper than building a supercasino in Blackpool. Regulation in America would be a goldmine for US based companies, since they will be able to get many of the US players that are currently suffering at the hands of dodgy operators because nearly all the reputable ones have quit the US market. The US companies will no longer have to compete with reliable online companies if the US brought in regulation, because they would have a significant advantage (simply by being US based) over those reputable operators seeking a US license under a new regulatory regime.

[Simmo!]

Although online gambling is popular with millions of Americans, it is illegal in the United States, and the casino industry has considered it a threat.

I'm starting to read this so often in the mainstream press that I'm starting to doubt whether my own opinion - that online gambling is NOT illegal in the US, only in certain States - is right. Surely the UIGEA just aimed to stop people depositing funds, it didn't make online gambling illegal did it?

I assume the mainstream media are just making an assumption here because no-one really understands the Wire Act/UIGEA. Someone correct me?

[Jasminebed]

If I owned a land-based casino, I'd be itching to get into the game, not opposing it.

Players here write so often about the pleasures of land-based visits and comps.

If I was a big-brand casino, I'd offer comps at the land-based for online play.

Players would get to gamble both from their own home (which has it's own pleasures), and get comps that would ensure brand loyalty.

[NASHVEGAS]

I'm starting to read this so often in the mainstream press that I'm starting to doubt whether my own opinion - that online gambling is NOT illegal in the US, only in certain States - is right. Surely the UIGEA just aimed to stop people depositing funds, it didn't make online gambling illegal did it?

I assume the mainstream media are just making an assumption here because no-one really understands the Wire Act/UIGEA. Someone correct me?

Mainstream media time and time follows the lead of the FBI, some state's AG's (not just limited to excluded states), some Politicians, the DOJ at times, misguided attornies, oddly enough it's fellow colleagues in the media, and among others in maintaining gambling online in the US to any off-shore casino, poker room et al or even in some cases just across State lines is illegal.

The FBI and DOJ still reach that Wire Act of 1961 applies to more than off-shore sports betting. Yet, it has never been subject to a court ruling and remains subject to contrary legal views.

I have read the the final UIGEA several times and the term "illegal" (as referred to above) surrounds it for sure and at one time I thought "illegal" was included in the Act, then decided I was reading it wrong so actually I still need to review again.