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New Jersey Player in Online Casinos

Don — Thu, 17 May 2012 02:39:22 +0000

Since the decision from the Justice Department that the Wire Act does not refer to online gambling and therefore there are no laws on the books that prohibits states from regulating online gambling, there has been a bit of a space race among the states in efforts to be the very first state to offer legal online wagering. At the moment Nevada, Delaware, Iowa, California, and New Jersey all have legislation in the works that would regulate online gambling. While I have little doubt that all of these states will eventually regulate online gambling, there is a value in being the first to do so. The state that moves ahead before other states will need to be sure that they have the infrastructure to handle the online traffic.

New Jersey is doing its very best to be the frontrunner in bringing the online casino industry to the United States. The state needs a wild card like this to reassert its standing in the American gambling industry as their market for brick and mortar casinos is being pulled apart by new states legalizing slot machines and table games. If New Jersey were to build massive data centers to handle online gambling in the region it is very likely that other states will attempt to cut costs of construction and simply utilize the infrastructure put in place by New Jersey. That would be enough to make New Jersey a permanent big player in the online casino world. A position they no longer hold in brick and mortar market.

Online Gaming Tax Revenue

Don — Thu, 17 May 2012 02:38:26 +0000

As far as I can tell state governments are coming a little late to the online gaming party and not even fashionably late. While the state legislatures are trying to find a way to allow for online gaming, hundreds of thousands of people in each state are already regularly engaged in online wagering. It is by no means a novelty. While their residents have been dropping millions of dollars a year on online wagering, the states have be standing by missing out on a big payday, which you figured they would be more keen on since every state in the country is still working their way out of huge budget deficits thanks to the recession. In addition to neglecting to cash in on big time revenue opportunity, the states have also neglected to protect residents from unregulated gambling venues.

According to online gambling industry lobbyist William Pascrell III, there are currently around 600,000 residents in New Jersey that regularly gamble online. Due to the fact that the state has not regulated the industry yet it is missing out on the $300 million to $400 million in tax revenues that they would estimatedly receive. Not only would there be the opportunity to collect hundreds of millions of dollars in taxes, the state would also have to build data centers that would be worth $150 million to $300 million alone. Regulating online gambling venues could do a lot for the New Jersey economy and for the economy of any other state that choose regulation over prohibition.

California Role in Online Casinos

Don — Thu, 17 May 2012 02:37:21 +0000

Nevada, Delaware, New Jersey, Iowa and California are all in the running to be the first state to regulate online casinos. It is a very exciting time for the online gambling industry. While there have been close calls and Representative Barney Frank trying for years to push a bill through on a Federal level, nothing compares to what is going on right now. It had been accepted for some time now that the online gaming would likely be regulated on a state level before on a federal level, and most people prefer gambling to stay a state issue even though the international nature of the Internet makes that difficult.

I personally do not think that Iowa or Delaware seriously have a real dog in the fight for the establishment of the new online gaming industry. While I would like to see the industry develop outside of Nevada, that might prove difficult. Nevada has a lot going for it in that it has already been accepted that all things gambling must first go through Nevada. Nevada has been setting the trends for the brick and mortar gambling industry for years and is attempting to convert that power over to new online gambling industry. The beauty of Nevada, particularly Las Vegas, is that it is very close to California. California will undoubtedly play a big role in the future of online gaming due to software needs in the silicon valley. While New Jersey is trying very hard to pull the coming industry over to the east coast it may prove difficult.

Silicon Valley Casinos

Don — Thu, 17 May 2012 02:36:29 +0000

Now that the door has been open for the development of an online gambling industry in this country states seem serious, finally, about regulating the very in demand service. Not only that they are trying to do it before other. Several states, each with a long established gambling industry is trying to get legislation through that will allow them to move forward with developing the industry. Nevada, Delaware, New Jersey, Iowa, and California are all looking at similar legislation in order to get the online gambling ball rolling. It is not clear which state will be first and it is not yet apparent where the home of the new industry would be. A case could be made for any of these states.

California is a very interesting bidder for the new home of online gambling. While most people would consider Nevada, the current home of all things gambling, the obvious choice, California may have a lot more to offer the young industry; specifically in the Silicon Valley. While yes there are slot machine manufacturers in Nevada that are producing software for online gaming, the big money for the industry could be in companies like Zynga who have a huge following already integrated into the powerful Facebook network. The software based focus of the online gambling company may lead to more opportunities in a place like California. California is also not very far from Nevada in the likely frequent events that the online gambling world wants to collaborate with the established brick and mortar gambling world in Nevada.

Online Gambling Frontier

Don — Thu, 17 May 2012 02:35:45 +0000

When the Justice Department ruled that the Wire Act did not prevent states from regulating the online gambling industry it created a boost in excitement that had been lacking and was necessary to finally make the industry legit. Since the beginning of the recession several states have been trying to find ways of making their gambling industries stand out from the next. Now that there is potential of not only starting an online gambling industry in each state there is also the opportunity to establish the headquarters of the industry, each state is fighting to beat the other to the punch.

Nevada has long been the pulse of all things gambling in this country and, for obvious reason, would like to maintain that role as online casinos come into maturity in this country. However, there is incentive for the new industry to start afresh, away from the entanglements of the old Nevada regime. While the brick and mortar business is firmly entrenched in Nevada there is no real reason for the online gambling industry to establish itself in Nevada as well. There are opportunities to develop the online gaming industry in other places like California where silicon is king. Online gambling could also develop somewhere else where a state has lenient taxes. The means for developing and distributing online gambling could really be established anywhere. I would like to see the industry start someplace new. I believe better and more exciting ideas will come out of a new developmental frontier.

Nevada’s Gambling Empire

Don — Thu, 17 May 2012 02:34:08 +0000

There was a time in this country where the only place that a person could go to get some legal gambling action was in Nevada. That has changed a lot over a few decades, however, one thing remains: Nevada is still the heart of the gambling industry. Major casino operators and slot machine manufacturers still make their home in Nevada. However, there is a major change on the horizon in the form of online gambling. It is not yet clear of online gambling will be considered an new industry that will rival the brick and mortar establishment in Nevada or whether it will just be another arm of the industry that was born and bred in the desert. Nevada would, obviously, prefer that things stay put within its borders and are not looking to share the throne with any other state.

Now that the Justice Department has ruled that the Wire Act does not forbid states from establishing an online gambling industry, several states are in a race to be the first to offer the service in hopes that the industry will establish itself there. The Governor of Nevada has already held a meeting with industry leaders to discuss how to move forward with online gambling and what Nevada can do to preserve its place as the spearhead of the industry. However, upstart states like New Jersey and California are doing whatever they can to make a comfy home for online gambling and steal some control away from Nevada. The war is on.

Rejuvenation of Atlantic City

Don — Thu, 17 May 2012 02:32:44 +0000

You snooze you lose. That is what they say anyway and if this mad dash the New Jersey has committed to for the right to be the first state to regulate online gambling does not work, that is what people will be saying to Governor Chris Christie. For the past several few years New Jersey’s gambling industry has been in a state of flux. The change was mostly triggered by the incredibly fast growing Pennsylvania gambling market that swooped in and took a big chunk out of the market that used to belong exclusively to Atlantic City, New Jersey. Now, with the development of online gambling markets all across the country and particularly in the northeast, Atlantic City is finding itself lost in a see of new competition.

Atlantic City has tried a few things to really revive its gambling industry, including cutting of state funding to the failing horse racing industry and pumping more money in the rejuvenation of Atlantic City as a resort town. However, the only thing that can really set its gambling industry apart again is not only being the first to offer online gambling, but somehow managing to give game developers the incentive of making New Jersey the home of the online gambling industry headquarters. Anything shy of that will only give New Jersey the edge for short period of time. Other states are sure to follow. Nevada will certainly not willingly allow another state to take charge of anything to do with gambling if it can help it at all.

Casino Headquarters in Nevada

Don — Thu, 17 May 2012 02:31:48 +0000

To this day, Nevada remains the heartbeat of the brick and mortar gambling industry. I does not matter what branch of the industry you are looking at, whether it be slot machine manufacturers or casino operators, it is most likely that you will find their headquarters in Nevada. If that is not the case you had better believe that these companies are making regular trips to and from the desert. The only reason that Nevada is so important to the gambling industry in the United States is because it all started there. That is really the only reason why most industry centers are what they are is because everything started there. Once all the major players are established in an area, it becomes super difficult to uproot them.

That is exactly what New Jersey is hoping to pull off with passing the very first bit of legislation in this country that would regulate online gambling. New Jersey has played second fiddle to Nevada for many decades and now its market is being ripped apart by new states regulating brick and mortar gambling in the region. Now that the Justice Department has ruled that there is no federal law in place prohibiting the regulation on online gambling on a state to state basis, there is a mad dash to be the first. Being the first does not necessarily guarantee, but it makes it more likely that the new industry will take its roots in New Jersey and really do a lot for the economy.

Casino Ecommerce

Don — Thu, 17 May 2012 02:30:47 +0000

I recall watching a very humorous video a few months back about the dawn of the Internet age. The video started out with a Bryant Gumbel and Katie Couric from the early 90s trying to figure out what exactly is email. The video then goes on to showing an array of different clips from advertisements, to news stories, to instructional videos discussing the new computer revolution that is being led by this mysterious new technology called the Internet. The video seem like it is from centuries ago now that we live in a time where people have the Internet in their pocket. The Internet is also becoming the primary place where most people do their shopping for items such as movies and music. However, while most industries have fully adopted the role of the Internet into their business model, one industry remains the hold out.

While yes you can visit the website of any brick and mortar casino in this country, the gambling industry has yet to fully embrace the internet. Legislation on both the state and federal level have been reluctant to legalize online gambling, but it now looks as though the race is on to be the firsts in a business that is bound to yield billions of dollars in revenue. The idea that there is still room to be any type of major first on the internet still baffles me. However, whenever there is a new field opening up in e-commerce that also means there is a lot of money to be made.

New Jersey Market

Don — Thu, 17 May 2012 02:29:37 +0000

New Jersey has been searching desperately for wild card to establish a stake in this new fight for gambling dominance in the country. State after state has been introducing slot machines and sometimes table games as a means of improving their revenue. Ever since then Atlantic City, New Jersey has lost its grip on the market that it had cornered for many years. Every new casino that opens on the east coast is essentially taking away some business that once belonged exclusively to Atlantic City. However, now that the days of Atlantic City being the Las Vegas of the east are long gone and the resort town is looking more like one of many gambling venues in the region, New Jersey once again wants a piece of the market that they can call their very own.

Here in 2012 the idea of the Internet being a new untouched market may seem a little absurd, however in for the gambling industry in the United States, the Internet market remains a great frontier. That is the reason that New Jersey is trying to push a bill through the works as fast as possible to regulate online gambling venues in the state. Not only would this give New Jersey a head start on the rest of the gambling markets in the country, but it would create the potential for the online gambling industry to be established in New Jersey. The only reason the brick and mortar gambling industry belongs to Nevada is because they beat everyone else to the punch.