The situation of legalized and regulated online gambling in the United States is poised on a knife edge. It is difficult to make predictions. However, the reputed independent business and credit ratings organization, Fitch Ratings, has put its money on the line and released a new report that states that the legalization of online gambling in the United States is "increasingly likely". There are several factors that have been considered by Fitch Ratings in making this prediction. Many states have been considering intrastate online gaming proposals and some of them have taken active steps. New federal proposals are being discussed and a bill has been tabled in the House. Companies involved in land casino and online gambling have started forming partnerships to be prepared for online gambling. Above all, the state and federal budgets remain strained and it is becoming increasingly difficult to ignore potential tax revenues from online gambling. Michael Paladino, the gambling industry analyst for Fitch, pointed out that there are several issues that will have to be ironed out before legalization of online gambling can become a reality. Of these two are most vexing. The first issue is whether legalized online gambling will cover only poker or it will include services like online casino wagering and sports betting. The second big issue is whether the legislation should be intrastate or should be federal. A sub question in the case of intrastate proposals is whether online gambling should be offered only through state owned lotteries as in some Canadian provinces or should it be in a competitive but regulated environment. An interesting feature in the Fitch report is that it discusses those sectors of the gambling industry that are likely to be hit by legalized and regulated online gambling. Racetrack slot parlors and state lotteries are high on this list. The Boston Herald, which carried a detailed article on the Fitch report, spoke to Massachusetts State Treasurer Steve Grossman, who also chairs the Massachusetts Lottery Commission.
Grossman said that his lottery is the most successful in the United States. It generates $4.5 billion in revenue a year and sends about $900 million a year to cities and towns as local aid. He added that online gambling is a major competitive threat to the lottery. If online gambling is to be legalized Grossman said that Massachusetts would like to put together a Massachusetts-based or a regional online gaming product that would protect the lottery revenues. The Fitch report estimates that US online gambling revenues, currently going to offshore companies, are in the region of $5 billion a year. These would increase sharply if online gambling is legalized in America. Still it would be far short of the revenues from all forms of land based gambling. 우리카지노 계열 대한민국 최고의 바카라사이트
Last week, as if by default, Washington DC became the first jurisdiction in the United States to legalize online gambling. In January Washington Mayor Vincent C. Gray had signed the law approving the 2011 budget, which provided for generating revenues through online gambling. The period for Congress to object to the plan expired last week. Now, Buddy Roogow, executive director of the D.C. Lottery, has outlined the plans for implementing online gambling. The online gambling would be under D.C. Lottery, which has signed a 50-50 revenue-sharing agreement with Intralot USA for developing and managing the online gambling web site. To start with a free to play online gambling web site is scheduled to go live by about July 1. By September 1 residents of Washington DC would be able to play for real money at a number of "hot spots". There could be up to 30 such hot spots in the jurisdiction. The city Convention Center is an ideal location for one of the hot spots. Other likely hot spots according to Roogow are hotels, bars and clubs. Players would need to bring their own computers to place bets at the hot spots. The online gambling product verticals will include casino games, poker games and betting on fantasy sports.
There is one major hurdle to be overcome before online gambling can reach players' homes. The administrators have to be sure that the available technology will restrict the online gambling to the geographic limits of Washington DC. This is expected to be in place by the end of 2011. Then adults in Washington DC would be able to enter in their payment details on their home laptops or computers in order to wager on their favorite online casino game, be it roulette or blackjack or slot machines.
In an interview to the Washington Post, Mayor Gray said that many Washington DC residents are currently engaged in online gambling, with the proceeds going to off-shore companies. The objective of this exercise is to offer regulated online gambling and ensure that the District receives its fair share of the financial benefits produced by online gaming. He said that the estimates showed a revenue generation of $13.1 million between the 2012 and 2014 fiscal years. There is a cautionary note to this otherwise celebratory event. Frederick Hill, spokesman for the House Committee on Oversight and Government Reform, said, "If the committee has a concern that a practice is either illegal or not in the interests of the federal taxpayers who support the District of Columbia, the committee could certainly raise a concern." He added, however, that no such issues were on the table for the present. 우리카지노 계열 대한민국 최고의 카지노사이트
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