Will the Gambling Trend Continue?
Certainly, and the debate will even strengthen. Online gambling revenue worldwide topped $10 billion in 2005. 80% of the bets came from the U.S. where online gambling is illegal, forcing U.S. online casino providers to list on the LSE and operate from places like Costa Rica and Gibraltar.

Where do the conventional casinos stand on online gambling?
The Las Vegas casinos will lead the charge to legalize online betting. They want to promote all kinds of gambling, not stop it.

Can one assume that …
Online gambling will continue to be a shady business? Congress is being begged to regulate and tax online casino operations. This would allow the huge poker and sports-betting markets to be regulated.

Is online gambling just a passing fad?
No! Each day more hands of poker are played in cyberspace than on earth.

What’s happening in Congress?
Senator Jon Kyl is leading a charge to stomp out Internet betting parlors once and for all.
SportingBet CEO Nigel Payne is lobbying to anyone who will listen about the pros of regulating the industry.

What’s happening in the Stock market?
PartyGaming, owners of PartyPoker.com, the world’s most popular poker site say that despite a booming market the company’s stock has dropped 13% since floatation.
MGM Mirage CEO Terry Lanni says that if online gambling was legalized, MGM Mirage would double its $6 billion in revenue.
Harrah’s Entertainment, known for great technology and a huge database of players, say that Harrah’s would do very well if regulations were passed.
Las Vegas Sands Owner Sheldon Adelson has his attention focused on Macau, where he is partnering with other hotel companies to create the Cotai Strip, China’s version of Sin City. Adelson will certainly play over the Internet.
Wynn Resorts are focused in Macau. This Las Vegas mogul won’t pass up a chance to operate online.

What’s actually going to happen?
Online gambling via the Internet will be regulated by 2007. It will go as it has gone with land-based gambling, alcohol, cigarettes and pornography. The morality issue will be dropped and online-gambling will be licensed, regulated and taxed like other vices Everyone will win: Online casino companies will grow, land-based casino giants will move into this market and the government will pull in huge tax revenues.

Posted on: January 4, 2006

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