Online casinos can live side by side with land based casinos, against some opinions.
Calling online casinos a house of cards, as did the York Daily Record in Pennsylvania earlier this week, seems hysterical.
"Online gambling: A house of cards"
Better yet, they claim the pro-online gambling argument to be a pyramid scheme. "Pyramid scheme" - just like that.
The YDR is afraid online casinos would take away some of the income from land based casinos (slots parlors, horse racing tracks, etc.) and that states would have to share tax revenues with the federal government.
Afraid the Pennsylvania government would lose out does not stop the YDR from supporting the state's table games at casinos, which compete with Atlantic City, Vegas and Indian reservations.
The economic model might yet be sustainable, if land based casinos of all sorts stop fearing the Internet and join hands, contributing from their knowledge and experience for added value. Assuming they have such knowledge and experience.
Meanwhile, warning of the risks of legalizing online casinos, the result of which might be a "tumbling down like a house of virtual card," makes for poor metaphors and poor economic forecasts.
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