In yet another instance of data showing that cannibalization of land-based casinos is simply not occurring due to online gambling, Boyd Gaming released its July 2014 revenue statement. For the first time since online gambling launched in New Jersey in late November, Boyd Gaming has broken even. Not bad for an industry that is only 9 months old, according to Keith Smith, the Chief Executive Officer of Boyd Gaming. Legal gambling is represented by the company’s partnership with Bwin.Party Digital Entertainment. Smith said recent data showed that more than 75% of the New Jersey online gambling participants frequenting his company’s website “are not active players of Borgata”. Several other important studies have showed that the theory claiming cannibalization of physical casino revenue by online casinos is unfounded. Data has consistently proven the same claim – that online gamblers in the United States generally are not the same type that enjoy traveling to a land-based casino.
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Online Gambling Proponents Outspending Adelson 4 to 1
For some time now it has been public knowledge that billionaire Sheldon Adelson is not a fan of online gambling in the United States. The Las Vegas Sands CEO has been a vocal proponent of any type of Internet casino and poker gambling, whether offered at the individual state or at the federal levels in the US. He publicly vowed to spend “as much money as it takes” to shut down the growing US online gambling industry recently, but he may have a problem. If Adelson sees virtual gambling as a threat to his physical casinos, online gambling proponents and business owners definitely see Mister Adelson as a threat to their well-being and existence. And they are fighting back.
Five Large Population States Seek to Join US Online Gambling Industry
As you know, New Jersey, Delaware and Nevada all offer some sort of legalized online gambling. But the combined populations of those 3 US states is just over 12.6 million. That is less than 1/3 of the California population of 38.3 million. The tiny state of New York claims 19.6 million residents, Illinois is 5th in US state population size at 12.9 million, and Pennsylvania is close behind with 12.7 million residents. Even Massachusetts claims 6.7 million residents. Coincidentally, those 5 states are all feverishly working toward the same goal … becoming the 4th state in the young but growing United States online gambling industry. And they all offer one thing that has thus far been missing – a substantial population to draw potential players from.
US Gambling Online Industry Timeline to Present – Which State Is Next to Join
The United States online gambling industry is barely 2 years old, as of June this year, but a lot of USA residents are unclear as to exactly what is legal and what is illegal. Quickly, federal statutes do not allow any US-based company to offer sports gambling online. And while there is no single piece of federal legislation which regulates a nationwide online casino or poker industry, those Internet gambling options are available at the state level. Nevada, Delaware and New Jersey all deliver regulated and state-based Internet gambling offerings, with a caveat. You must be located inside those state boundaries to enjoy cyber gambling that is run and provided by those states. With such a young but confusing industry, we thought we would provide a United States online gambling timeline which covers the last couple of years. We have to start all the way back in late 2011, when the most significant piece of federal legislation laid the groundwork for US states deciding their own online gambling destiny.
United States Gambling Online Is Changing How the Internet Works
Who is Matthew Katz, and why should his opinion matter to you? Katz is the Chief Executive Officer of Central Account Management System (CAMS), and if you are reading this article, you most likely are a fan of some type of online gambling. The CEO of the payment processing company, which also handles Internet casino player verification, believes that online gambling as it exists and is emerging in the United States is going to transform the way the Internet works.
US Gambling Online Provider Bovada Increases Casino Promotions for United States Players
Long before the states of Nevada, Delaware and New Jersey decided to legalize state based Internet gambling, Bovada delivered legal sports, casino, horse and poker gambling to residents of the United States. By qualifying for an interactive Internet gaming license from the Kahnawake Gaming Commission in Canada, Bovada now provides industry recognized certification. Way back when, Bodog was the leading Internet jurisdiction for US-friendly gambling. Bodog was founded back in 2000, well before the Department of Justice in the US decided to allow individual states to regulate and license online gambling offerings. The World Trade Organization (WTO) has time and again supported the right of Antigua (Bodog’s licensing provider) to offer Internet gambling services to US customers. Now owning respected Kahnawake licensing makes Bodog’s new entity ever more legitimate.
United States Gambling Online – What Is and Is Not Legal in the US
This year the World Series of Poker will deliver a $10 million Main Event grand prize. This is the first year since 2006 that the winner of the world’s most popular poker tournament will take home eight figures. More than $50 billion was spent on state-run lotteries last year in the United States. And Las Vegas casinos make over $100 million each spring on March Madness alone. Additionally, March Madness brackets played in sports bars and office pools across the United States involve hundreds of millions, if not billions of dollars. In 2014, a record $119.4 million was wagered at Nevada casinos on the Super Bowl. The bottom line? Americans love to gamble. So with the majority of US citizens believing that responsible adult wagering is acceptable, why is United States gambling online illegal? Well, actually, it is absolutely legal.
Could a Pennsylvania Online Gambling Industry Outperform New Jersey
The United States gambling online industry still currently counts just three states as participants; New Jersey, Delaware and Nevada. Nevada’s next-door neighbor, California, boasts the largest population of any state in the US. That makes it very attractive when you consider potential revenue production if online gambling in the form of poker and/or casino games was legally presented to its residents. And it looked like Golden State web poker was going to become a reality in 2014, but it now appears that 2015 is probably the earliest that California residents will be able to legally play online poker at state-sanctioned California online poker websites.
Why are US Gamblers Choosing Offshore Options Over NV, NJ, and DE Choices?
It has been almost a year since Ultimate Poker launched the new United States online gambling industry in Nevada. The Department of Justice decided it was okay for states to offer Internet gambling, as long as it was restricted to anyone physically located within that state’s boundaries, and sports gambling was not on the table. New Jersey and Delaware followed Nevada’s lead, adding Las Vegas style casino gambling as well as virtual poker, and as of this post, those three states remain the only in the US to legally deliver cyber wagering to their residents and visitors.
Pennsylvania Resolution SR 273 Okays Online Gambling Study
With nearby New Jersey and Delaware already on board with legalized online gambling, Pennsylvania has also decided to take a look. Pennsylvania Resolution SR 273 was approved by the state Senate, which means that state is officially going to conduct a study of Internet gambling viability. Several other states are legitimately considering passing Internet gambling laws that would allow their residents and visitors to shuffle up and deal, play some virtual slots or enjoy popular casino table games over the Internet through state licensed options, expanding the list of existing offshore legal Pennsylvania online gambling options already available. Illinois and California appear to be the front-runners in the race to become state number four in the young and slowly growing United States based Internet gambling industry.