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Shifts In Casino Gambling Trends
The internet's ability to blur boundaries and society's acceptance of casino and sports betting ultimately shed light on the inconsistencies and loopholes of American laws. From the makeshift sports book stalls in Nevada, most sports betting activities shifted operations and exploited the possibilities of cyberspace in the mid-1990s. At present, there are numerous online gaming sites catering to sports betting and casino based in countries like Jamaica, Costa Rica, and Ireland.
Despite overseas-based operations, the lion's share of the revenues and clients of these sites come from American states. In fact, recent studies show that these online casino and sports betting sites earn more than legal casinos operating in Nevada. The profits of online and betting sites are estimated at $70 billion for 2005 alone. This is a staggering amount compared to the reported $2 billion from Nevada casinos. This is enough to overthrow the three-decade reign of Nevada casinos from the 60's to the early 90's. Considering that sports book and casino sites have been operating for less than two decades, they are clearly a threat to the thriving Nevada scene.
For decades, Las Vegas is the only place legal for operations. Atlantic City followed suit and made casino legal; the following decades saw the proliferation of state lotteries, card clubs, gaming ships, Indian casinos, and off-track betting salons across the nation. But still, these developments are not enough to compete with online gambling. The industry of online is not even swayed by staunch opposition from legal US casinos. The laws of the United States of America do not help, too. They vary widely from the different states. Most states ban all forms of while some make exceptions. Inconsistencies like these make it easy for online operators to find and use loopholes in the law. The American Gaming Association maintains a defensive stand regarding online gambling. The association pushes for federal laws on the regulation of online gambling. According to them, the unregulated nature of the online industry is its advantage over traditional casinos; regulating it puts both camps on even footing.
But despite this stand, some Nevada casinos are following the old stand-by: if you cannot beat them, join them. November 1998 saw the start of a new trend; traditional casinos started acquiring off-shore online casino companies to improve their profits. An affiliate of the Hilton Hotels absorbed the Australian sports book Centrebet.com. Other Nevada casinos followed and this cycle again spawned a new barrage of debates.
Contrary to their earlier dislike of the online industry, the traditional casinos set their sights higher. They are now pressuring the Congress to pass a law that legalizes online gambling. This is done in an effort to lower production costs; legalization means that they could now shift their operations in the US. Harrah's and MGM Mirage, the two leading casinos in Nevada and undoubtedly owning their own online sites, lead the casinos in requesting for the regulation of online gaming. Clearly, this move requesting for regulation does not intend to put traditional casinos at par with online sites anymore. The competition shifted between independent online sites and Nevada casino-owned sites. A move to regulate translates to double profits for the Nevada casinos.
Whatever comes out of this new development in casino gambling, gamers are still assured of their fix. Possibly, if the proposed regulation is approved, there would be more security in betting online since it is now under US laws. Like before, casino proves itself to be a dynamic and ever-changing industry.
Josef Kuba
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The Martians gamble at Jetan in several ways. Of course the outcome of the game indicates to whom the main stake belongs; but they also put a price upon the head of each piece, according to its value, and for each piece that a player loses he pays its value to his opponent. |
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