Manic Depressive American Gambling Laws Give a New Hope Again
May 14, 2012
Gambling in America
The fate of online gambling in America has been harsh.
First, when online casinos started operating in the Land of the Free, the industry expected to profit handsomely. Then, the Unlawful Gambling Act in 2006 destroyed the online betting in the United States as international casino news report.
Some offshore sites were still able to operate. But, the law, which once let them do business, turned upside down in a manic depressive way, and went on cracking down with full force. The American poker sites such as PokerStars and Full Tilt Poker were shot down and owners charged with felony counts.
Even recently, the US government has cracked down on Bodog, an online casino which offers multiple games such Internet blackjack. Bodog’s site in the United States has been seized, although its international branches still operate.
Now, the Justice Department has turned the previous illegal gambling ruling upside down and is stating that the online casinos shouldn’t be banned in the US. This is sparking a massive deal-making in the casino industry, where the game makers are teaming up with land-based casinos, and acquisitions are taking place, such as the purchase of social gambling software maker, Playtika, by Caesars Entertainment for $90 million.
Another massive deal involved a purchase of a small 70-employee company, DoubleDown Interactive, by IGT for $500 million.
There is also craze involved when it comes to mobile casinos and games. What is emerging is a vision of unified gaming conglomerates combining land-based casinos, online casinos, mobile casinos, and social gambling on sites such as Facebook or Zynga.
So far, only Nevada has legalized online gambling, but other states are looking into it as well. This will allow remote wagering to take place within intrastate borders until the Congress gives a go at a Federal level. But exactly when will this happen? No one knows for sure.