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What to expect from online gambling: 1) Online poker will precede other forms of online gambling...

  • Friday, February 22, 3:30 PM ET
    What to expect from online gambling: 1) Online poker will precede other forms of online gambling as the game of skill is viewed as easier to garner approval. Wynn Resorts (WYNN), MGM Resorts (MGM), and Caesars (CZR) have been planning aggressively for this day, but Las Vegas Sands (LVS) has been stuck in neutral. 2) State bill 114 gives Nevada the power to negotiate with other states to offer online gambling services. 3) The Nevada Game Board says it has 20 pending applications from operators and equipment manufacturers. Look for tech companies (previous: Zynga) to be in the mix. 4) Firms tied to the 2006-2011 illegal online gaming market are banned, indicating some of the strongest poker websites may be on the outside looking in.
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This news story has 10 comments:

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    As expected, online games companies will be "in the mix" as poker game coders, but not gambling vendors. The real opportunities will be controlled by the casinos: http://bit.ly/11ZPZqu

    ZNGA hasn't actually applied for a license, they made an “Application for a Preliminary Finding of Suitability” from the Gaming Board, triggering a review process that takes up to 18 months. If granted, ZNGA still would need to secure a full gaming license, which involves a great deal more (http://onforb.es/12NjtXU). And as commentators noted when they filed this application, this is more a PR move because they are poorly positioned to run a full-fledged gambling operation. Bidding for game development contracts, as one of many online games coders in a crowded field, is ZNGA's real, and limited, immediate business opportunity.
    22 Feb, 03:42 PM Reply Like
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    Another source of state tax revenue?
    22 Feb, 03:50 PM Reply Like
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    Fed and state. I certainly do not mind gambling casinos. I enjoy going to Vegas but on-line gambling. The people that cannot afford to gamble will now be going broke, on-line.
    Those same extra gov't revenues will go to pay for those losing their shirt on-line, more food stamp applications and more Medicaid.
    Now dealing with profits, could we see the actual casinos taking a hit from people not going, less rooms booked, less food, drinking and less shopping. The diverting of money on-line could hurt them more.
    22 Feb, 06:13 PM Reply Like
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    I like Vegas too. I could stay home and use the Plane / Room / Food money to gamble. I could lose and still be ahead. I'm ready to lose some but have fun at home.
    22 Feb, 07:54 PM Reply Like
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    Perfect example and many others will do the same.
    In Queens, we have Aqueduct race track with the new casino; no tables but the number one casino in the country.
    Just a side issue: First year not getting Comp from the Mirage; I think I came out ahead for a change. So instead of paying for the plane, $7 worth of gas and I am at Aqueduct.
    This is what happens when casinos are being built all over or on-line gambling becomes legal.
    23 Feb, 03:25 PM Reply Like
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    i agree with u guys. people who cannot afford to gamble prior this subject,will be gambling,what they can t afford. vegas, and other resorts, have now hit their bubble.well, now lets go directly to the family household, i guess vegas don t make enough degenerate s already. you are right, anybody that has a very good skill at poker, will come out ahead in the game, but will only get even, when he has to reimburse the food stamps for more people, who will take a shot at the game of skill. which is right. however, a lot of people , will need luck to overcome this internet game. and nobody has luck on a consistent basis. old saying, what ever chips go up must come down.75% of the people will not know when to cash out. like kenny roger s song THE GAMBLER. buy the CD while u are able to.
    24 Feb, 08:38 PM Reply Like
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    Online gambling is hot with college students. I guess that is how they plan to pay off their massive student loans. Just don't lose.

    Wonder how they check if the player is underage. You can lie about your age online.
    25 Feb, 11:52 AM Reply Like
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    You can lie until you win and then they require proof. I was just listening to the business report and they mentioned on-line gambling. I believe NJ will approve with higher taxes for on-line winners.
    The only winners are the gov't agencies that will be taking in the money. Then reducing their profit after giving to those applying for food stamps and Medicaid after losing all their money gambling on-line.
    My problem with on-line gambling are the people who cannot afford and believing they could win big but will be the big losers.
    Nothing wrong with gambling for those that can afford to lose money. On-line gambling will not target those people; it targets the poor.
    26 Feb, 10:48 AM Reply Like
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    How is the lottery different?
    26 Feb, 05:26 PM Reply Like
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    It is not. You can play as long as you want until you win. Then you give the ticket to a family member with the hope they give you the money after taxes.
    And the rest of what I said above applies to the lottery with one exception; hands on gambling can be very addictive or much more addictive then the lottery. I completely agree that people who spend a lot of their money on lotto are getting hurt but once you start gambling, you lose your money much quicker. It is the rush that lotteries do not give.
    In reality, not much of a difference but just another way gov't takes in revenue and those that play lose.
    As Steve Wynn stated but not in his exact words the odds are in the casinos favor and why he is an owner.
    27 Feb, 09:28 AM Reply Like
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