Will Canadian Buyout of Poker Stars and Full Tilt Poker Return Legit Online Gambling Reputation to US?

The amount of United States citizens gambling online numbers in the tens of millions. Then why is it that the combined states of Nevada, New Jersey and Delaware count only a couple of hundred thousand registered online gamblers? Those three states form the very small United States online gambling industry of companies based in the United States. Where is everyone going to gamble online? The answer lies in an established offshore gambling market which has been honing its craft and providing Internet gambling options for US citizens for years. Coupled with the 2011 Black Friday shutdown of the three largest online poker sites in the United States, those reputable and respected offshore gambling destinations are very attractive to US players for a lot of reasons.

Two of Three Banned Online Poker Giants Ready to Return to US

However, US gamblers have been wary about offshore and out of country Internet wagering portals for some time. The 2011 Internet poker debacle just made them even more skeptical. The truth is, the upper crust of offshore gambling websites is legally licensed and certified in jurisdictions where Internet gambling is a regulated industry. US players can safely and enjoyably spend their time playing online poker, slots or blackjack for real money in a secure and reliable environment. That having been said, a Canadian gambling company recently invested nearly $5 billion in the hopes of returning two of the largest online poker giants to the US Internet gambling industry. The new Canadian ownership of PokerStars and Full Tilt will definitely give USA cyber wagering across all venues a huge boost of respectability.  An official press release was issued last Thursday announcing the acquisition.

Canadian-Owned Amaya Pays $4.9 Billion for Full Tilt and PokerStars

Amaya has agreed to pay $4.9 billion for Full Tilt and PokerStars, a deal which would culminate in the world’s largest single online gambling company. Enjoying wonderful relations with the United States, Canada is looked upon by US lawmakers as a country with a reputation of high esteem. The all-cash transaction would not have taken place had Amaya not done its homework, and discussed with US lawmakers the potential for reentry into the US marketplace. Ever since the 2011 Justice Department Wire Act reversal concerning poker, individual US states are allowed to establish and regulate online gambling websites. This is the first time that US owned companies have been able to legally provide Internet poker and casino gambling to US residents and visitors, and it appears Amaya is bullish on the future of online gambling in the United States, starting with USA online poker.

Amaya Eyes US Online Gambling Market in First Consumer Operation

In the past, Amaya’s business has tended to focus mainly on land-based casinos and other types of gambling operators. This includes state lotteries, and making slot machines and other physical gambling products. The company is also adept at creating casino management software programs. Stating that this is the first consumer venture for Amaya, the chief executive of that company, David Baazov, did not release concrete plans for the United States online gambling marketplace. He did however state that it is his company’s expressed intent to work with US legislators and gambling firms to provide a world-class Internet poker experience.

Legitimate offshore online gambling providers saw a significant boost in 2006 when Congress decided it was illegal for Internet gambling companies located in the United States to accept bets online. Even more business was sent offshore when the DOJ shut down Full Tilt, PokerStars and Absolute Poker, the three largest online poker room operators the world, in 2011. The bigger and more established non-US online poker, casino and slots operators offer attractive options which the current 3-state US Internet gambling industry cannot match. This includes guaranteed credit card funding and generous welcome bonuses. And it may be some time before any US cyber gambling providers can operate with the high level of efficiency the legally licensed offshore companies are delivering. But looking forward, the Amaya online poker purchase looks positive for the future of the US online gambling industry in general, and poker specifically.