The us Department of Justice has ruled that all forms of online gambling are not illegal according to the Wire Act of 1961. The new decision states that the Wire Act only focuses on sports betting and not casino or poker offerings. This new position brings the probability of individual states or a group of states banding together to allow online gambling in their states. It also opens up possibilities in the industry that have not been available in a long time.
First, the states have the possibility to bring in a lot of tax revenue and some job creation based on online gambling. States that have gambling or Indian Gaming in there state should clearly be interested in pursuing intrastate online gambling บาคาร่าได้เงินจริง. They have a lot to gain and the possibility to balance their budgets. The question is how they will go about it.
Will they treat it like a state run lottery. Many states already have this is place. Some of the aspects of the lottery can apply to online gambling, but not much. The states would have to obtain the software, secure it, promote it and run it. They also have to regulate the payout and number generators. Not to mention, stop cheaters and provide funding for both deposits and withdrawals. The point to this is that states will be hard pressed to setup and run an operation like this. So many states would have to look at other options.
One of the options is Indian Gaming. They have many gambling establishments and probably are better suited to move in the online direction. They do have many of the same hurdles as the states and more challenges in the funding departments. Quite frankly online gambling could very much diminish their gambling profits from their brick and mortar casinos. Something they have a monopoly on for the most part. For this reason it is possible they may fight online gambling rather than participate in it.
The next logical option is the current gambling establishments. In Nevada, many have already applied for licenses for online gambling. They seem to moving in the direction of providing online gaming to Nevada. Just how far are they is uncertain, but they have the resources, the will, and motivation to make it work. They too are in jeopardy of losing revenues to online gambling. They are far more likely to participate than to fight it. They have proven they want to participate and are moving in the direction already.
The last option is current online gambling establishments. They already have the software, are currently operating, and have the funding options already in place. This positions them in the driver’s seat and gives them a potential inside track. Like the others mentioned above, they have some issues to overcome. First they are not located in the us at all. This poses a lot of problems since this is a states only initiative and they do not want to violate the Wire Act in any way. So these companies would have to set up shop in the state and operate a version of their software just for the state. Something they could pretty easily do. The online gambling business is to be spared during these tough economic times and will continue to grow at double digit year on year percentage rates. This statement comes from a recent study displayed to the public right before the global financial crisis hit the world stage. A prophetic study this, as weeks later the world began to exert the economic age of turbulence predicted by the wise and now retired FED chairman, Alan Greenspan.
We live in tough economic times, where a simple bubble burst or bank breakdown has strong worldwide ripple effects which shows our interconnectivity and economic frailty in this global marketplace of social paranoia, at least in the financial speculation of the human psyche. Major banks close down such as the renowned Lehman Brothers, governments emerge to form rescue packages and purchase equity in places such as Goldman Sachs (one of the investment banking elite), and major corporations and even sports authorities fire workers such as Volvo and the NBA.
However, few industries are meant to benefit from this economic debacle, and this is the online gambling sector. Before the crisis, one would walk into marketing research firms and ask for an industry report only to see positive growth curves for the industry in terms of forecasts, and positive pro forma financial studies. Believe it or not, this is still meant to happen, and here is why. Punters will always continue to place bets, no matter the volume, it might be less than before as they will cautiously view economic downturn as a global recessionary practice in their expenditures, or they might spend more as they need to break even and hope that the online gambling endeavor will help them make ends meet.
Clients with an already addictive personality will continue to place bets. Wealthy gamblers will still make their usual monthly allotments into their gambling investments. Masses will not drive, fly, take public transportation to their favorite sports books or casino destinations, and instead will opt for an easy to use alternative such as betting from your PC at home or work given lower costs such as cheap broadband and no need to spend on transportation and extra costs, ease of use, and quickness combined with the safety these worldwide brands now offer the public. With the smoking ban on many brick and mortar establishments, gamblers will also take their activities online.
These are the main reasons the sector will now prosper. Some speculators even state the industry is in for a major growth due to these circumstances, and in five years, the industry will showcase top notch performance in terms of volume growth. Major gaming corporations are displaying positive value in their stocks on major world markets therefore displaying industry confidence. If Obama wins, the usa might re-open its online gambling doors yet again as the Senator has voted in favor of recent bills aimed at regulating the industry, and this will surely favor major betting operators not only in industry volume growth terms, but in financial retributions.