Keeping Online Gaming Cash in the USA

Published April 1, 2011 by OCR Editor

Keeping Online Gaming Cash in the USA

License fees and annual renewal fees could make intrastate online gambling a reality in the USA.

The USA is home to arguably the world's greatest gambling haven in Las Vegas, Nevada. With the biggest hotels and casinos, the most alluring shows and extravaganzas, few locales are able to compete with this gaming juggernaut. While bricks and mortar gaming remains the bedrock of Las Vegas' revenue stream, moves are afoot to power into the online gaming realm.

Online gambling - while illegal in the USA - is responsible for mega-billions of dollars in takings each and every year. The USA provides a hefty chunk of this revenue to overseas online casinos and now Las Vegas casinos want to keep the money at home.

USA Online Gambling

New Jersey remains at the forefront of these initiatives with a series of moves to try and get their governor to sign into law the intrastate online gambling bill. But it's not NJ alone who is determined to see this through - it's Nevada that's starting to make some noise now. Federal law disallows online betting to residents outside of Nevada but there is an established framework in place to allow for this to take place. Nevada is charging some $500k for the license fee and an annual $250k in renewal fees.

Although NJ Governor Christie nixed legislation to allow Internet Gambling, the Senate voted 32-2 in favour of legalizing blackjack, online poker and other casino games. The Assembly voted 63-11 in favour too. In spite of Christie's objections, the legislation remains a viable option for people within NJ's borders.
Nevada Leads with Innovation

In late 2010, Nevada developed smart phone betting applications to allow all residents of the state to place sports wagers while they're within state lines. The system allows for instant verification of where the bettor is at the time that the bet is placed. This is all done via mobile phone.

And now, Caesars Entertainment Corp. is able to conduct business with Gibraltar-based 888 Holdings PLC - a powerhouse in the UK online gaming market. This move would push Caesars to the forefront of the online gaming market and promote the WSOP brand no end. Of the mega billions made in Internet betting, some 19% is derived from poker gaming.

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