Online gambling is a growing feature of the information superhighway.
Each day millions of dollars are transacted on over 700 sites worldwide. According to the Associated Press, the numbers are staggering. In 1999, Internet gambling pulled in $1.1 billion. That number is expected to jump to $3 billion in 2002. Just under 5 percent of Americans with Internet access have thrown the virtual dice.
As large as Internet gaming is in the United States and abroad, the numbers we see now only foreshadow what is to come.
The world is still getting used the idea of networked entertainment and consumer options. Online sales - or e-commerce - is multiplying exponentially as consumers learn that Internet retailers are reliable, and that what you see is what you get.
Expect the same thing for gambling.
Right now most Internet gaming is done from foreign soil. This makes consumers a little weary. The questions arise: Who's to trust? and Where is the authority?
These questions came to a head in July when the U.S. House of Representatives considered a bill that would have banned online casinos. Of the 270 votes necessary to pass, the bill mustered 245 votes. A close call for those who oppose any form of Internet regulation.
The bills primary supporters were, of course, the gaming industry, and socially conservative groups and the national association of attorneys general. They argued that without clamping down on Internet gaming, states without legal gambling could be brought into the fray and children could easily participate.
The bill's opponents, besides being anti-regulation advocates, said the bill gave preferential treatment to horse and dog racing, as well as state lotteries. A 1961 bill addresses similar issues. It prohibited telephone betting for the same reasons.
Nevada's casinos might feel the pressure of competition when Internet gaming starts to gain momentum. The weekly flow of sports betters who stop in at places like the O-House or Carson Station might opt instead to stay at home or work. The sites that will prevail will reflect the successful online trading sites. Charts, graphs, lines, etc. will all be a click away and easy to use. Smart gaming companies will get into this industry while it's young.
In Nevada, online gaming is always under review but currently prohibited by the Gaming Control Board. The theory is that state boundaries - where legal gambling stops - could not be enforced effectively in a world so well connected. Until assurances can be made that online gaming will stay in the state, licensing in this field is a moot issue.
But there are signs on the horizon that Nevadans and maybe residents in other legal gambling jurisdictions will one day have the ability to wager this way. Earlier this year, board members met to discuss the pros and cons of Internet gaming. Although the issue was soundly defeated, officials say the casino corporations are eager to jump on the Internet bandwagon.
Coast Resorts has also opened the doors in its own way.
Last week, the board approved a computer-to-computer wagering system that allows gamblers to tap into their casino accounts, place bets in the sports book and track their winnings (or losings). The board says this is a far cry from Internet gaming, and it is being advertised as an extension of telephone wagering.
Questions?Ideas? E-mail at jimscripps@Tahoe.com
