Online Casino Transfer: News - Indian Outline on Legalization

03/20/2010		Online Casino Style: News Indian Outline on Legalization - 2
Home History Games News Dictionary		continued from Indian Outline on Legalization - 1 Harrah’s Entertainment is the largest casino company in the United States, and has earned their reputation through their dominance of the Las Vegas field. Though not tribe operated, Harrah’s has invested more than $3 million in promoting internet gambling, part in parcel with last year’s launch of Harrah’s Interactive, a division of online casino services currently catering primarily to European customers until legalization is achieved. It’s estimated that as much as $5.9 million is bet each year by Americans circumventing the UIGEA, wagering in offshore and technically ‘illegal’ online casinos. According to PricewaterhouseCoopers, when online casinos are liberated from the US ban, the change in policy will lead to major money to be made. In fact, they approximate that anywhere from $10.1 billion to $41.85 billion will be generated in federal taxes and fees over the next ten years. The international online gambling market is huge, and makes it easy to believe that such numbers are possible. Currently, worldwide numbers sum up to as much as $21 billion. Experts say that the concerns of the tribes are hardly applicable, as the demographics for the two industries are vastly different. Online gamblers are already online gamblers, and even now, they don’t frequent live casinos. Furthermore, the Californian market in particular is already showing signs of saturation in terms of live casinos, with revenues dropping 6 percent from 2007 to 2008, down to $7.3 million. Some tribes which won the right to install more machines – increasing from 2,000 to 5,000 – have yet to do so for the slowing of the market.

03/20/2010

Online Casino Style: News
Indian Outline on Legalization - 2

continued from Indian Outline on Legalization - 1

Harrah’s Entertainment is the largest casino company in the United States, and has earned their reputation through their dominance of the Las Vegas field. Though not tribe operated, Harrah’s has invested more than $3 million in promoting internet gambling, part in parcel with last year’s launch of Harrah’s Interactive, a division of online casino services currently catering primarily to European customers until legalization is achieved. It’s estimated that as much as $5.9 million is bet each year by Americans circumventing the UIGEA, wagering in offshore and technically ‘illegal’ online casinos.

According to PricewaterhouseCoopers, when online casinos are liberated from the US ban, the change in policy will lead to major money to be made. In fact, they approximate that anywhere from $10.1 billion to $41.85 billion will be generated in federal taxes and fees over the next ten years. The international online gambling market is huge, and makes it easy to believe that such numbers are possible. Currently, worldwide numbers sum up to as much as $21 billion.

Experts say that the concerns of the tribes are hardly applicable, as the demographics for the two industries are vastly different. Online gamblers are already online gamblers, and even now, they don’t frequent live casinos. Furthermore, the Californian market in particular is already showing signs of saturation in terms of live casinos, with revenues dropping 6 percent from 2007 to 2008, down to $7.3 million. Some tribes which won the right to install more machines – increasing from 2,000 to 5,000 – have yet to do so for the slowing of the market.