Motley Fool: Positive Assessment of Online Gambling

Changes about to come?

A positive article on online gambling was published by investment publication Motley Fool in which it is assessed that with the crisis in many US states’ budgets, the attitude regarding legalization of online gambling is getting more relaxed.

The article also presents the latest movements in the state and federal legislation, adding that, despite the fact that land casinos may note some business losses, the new legislation will enable them to spread their offer online and profit from internet gambling.

"Like other online operations, virtual casinos have little overhead, easy scalability, and potentially high profit margins. Casino operators could even offer benefits and rewards tied to their brick-and-mortar properties, driving additional traffic there," it was assessed.

In addition, a particular stress was put on the easy accessibility of online gambling, and the fact that it can support a greater number of gamblers more frequently, based on a recent study in Canada, according to which, online gamblers spent an average of nearly Cdn$10,000 per head annually, compared to just over Cdn$500 for land gamblers.

In a quote from Foxwoods and Harrah's, it was stated that "Several members of the casino industry are already positioning themselves to profit. The Foxwoods Development Company is partnering with an online gaming company, and Harrah's has already launched online casinos in areas where such gambling is currently regulated."

A great deal of possibilities is available in the enormous Asian market, as well, and more will come if the Chinese government opens to online gambling, thus bringing in the giants Macau gambling firms.

"In gambling as in many other facets of business, change is clearly in the air -- and companies that don't keep up with changes may end up left behind," it was concluded.

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