It’s no secret the US is all in a tizzy about a recent ruling that allows states to make their own online casino gambling laws. While it was clear that online gambling for sporting events is still outlawed (odd, considering online sports betting bookmakers operate in the US) the green light has been given for states and casinos to go ahead and tap into the vast online market. The initial focus will be on poker, but as companies grow, the games they offer online will grow too. Like UK sites, US sites will expand from poker into games such as roulette and black jack.
While this could mean a surge in badly needed tax revenue for US states, it can also mean a large pool of profits for UK betting outfits too. One US based company, Shuffle Master Inc. has already started preparations, including a hiring plan and a multigamer platform. The chief strategy officer had this to say about it, “Come February, you’ll see a lot of activity in Nevada around legal online gaming. Some people will jump, we’ll certainly be ready…The question is which companies will want to go first.” The global market for online casino gaming is estimated at 35 billion and the United States of America are determined to get a piece of the pie.
Established brick and mortar casinos located in Las Vegas will now have an opportunity to extend their brand outside of the state via online casino websites. They can offer cross-incentives to visit the sites and the casinos in-person.
Pro-legal casino online gambling camps are getting flak from opponents who believe that it has a high social cost associated with addiction problems, but that isn’t likely to stop the ball that is just starting to roll down the hill.
Big US casinos can capitalize on their brands by partnering with UK gaming companies and extend profits not only for themselves, but for their European partners.
Economically speaking, the move will signal job creation, increased tax revenues for states and an ever tightening global market. The negative externalities will only be seen as time goes on.
