(Click Here for the Latest Online Poker News Stories)
Copyright 2005 Los Angeles Newspaper Group
December 2, 2005
HEADLINE:
Online Casino Poker Leads the Way
Body:
Poker has been the
leading catalysts in the online casino revolution. This year,
online casino poker
topped $2.4 billion in revenues, accounting for 20% of the overall
revenues generated by online gambling worldwide. Experts estimate
that by the year 2010, online poker will account for 27% of the
profits generated by the online gambling market, reaching a whopping
$6.7 billion. If you take into account that last year Las Vegas´
Strip casinos managed to pull in a combined $5.3 billion, it becomes
apparent why many experts believe that online casinos are set
to outshine all other forms of casino gambling, including sports
gambling.
What are casino operators in Vegas are planning as a response
to online casino sites
gradually taking over the industry? If you happen to catch 60
Minutes that was aired a couple of weeks ago, you would have noticed
a prominent CEO from one of Las Vegas´ most prominent casinos
saying that she is all for regulating the online casino business.
The news made a lot of waves, considering that you would not expect
someone from the opposite side of the fence to advocate online
gambling.
As weird as it sounds, regulating the online casino industry
makes a lot of sense for land based casino operators. As it stands
now, land based casino operators cannot compete with online casinos
since they are prohibited by law to provide online gambling services
to people who reside in the US. However, if the online casino
industry is to be regulated, it will level the playing field allowing
them to run their own online casino site, thus having an equal
shot at a piece of the pie.
Downloaded from
the World Wide Web on December 2, 2005:
http://www.onlinecasinoreports.com/news_show.asp?id=952 |
(Click Here for the Latest Online Poker News Stories)
|