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The internet's ability to blur boundaries and society's acceptance of casino gambling and sports betting ultimately shed light on the inconsistencies and loopholes of American gambling laws. From the makeshift sports book stalls in Nevada, most sports betting activities shifted operations and exploited the options of cyberspace within the mid-1990s. Right now, you will find numerous online gaming sites catering to sports betting and casino gambling based in countries like Jamaica, Costa Rica, and Ireland.
Despite overseas-based operations, the lion's share of the revenues and clients of these sites come from American states. The truth is, recent studies show that these online casino gambling and sports betting sites earn more than legal casinos operating in Nevada. The profits of online gambling and betting sites are estimated at $70 billion for 2005 alone. This is an amazing amount in comparison to the reported $2 billion from Nevada casinos. This really is sufficient to overthrow the three-decade reign of Nevada casinos from the 60's to the early 90's. Given that sports book and casino sites have been operating for less than two decades, they may be clearly a threat to the thriving Nevada gambling scene.
For years, Las Vegas is the only place legal for gambling operations. Atlantic City followed suit and made casino gambling legal; the following decades saw the proliferation of state lotteries, card clubs, gaming ships, Indian casinos, and off-track betting salons through the nation. But yet, these developments are insufficient to compete with online gambling. The sector of online gambling is not even swayed by staunch opposition from legal US casinos. The gambling laws of the country of America don't help, too. They vary widely from the different states. Most states ban all forms of gambling while some make exceptions. Inconsistencies like these make it easy for online operators to discover and use loopholes within the law. The American Gaming Association maintains a defensive stand regarding online gambling. The association pushes for federal laws on the regulation of online gambling. In line with them, the unregulated nature of the online gambling industry is its advantage over traditional casinos; regulating it puts both camps on even footing.
But not surprisingly stand, some Nevada casinos are following the old stand-by: if you cannot beat them, join them. November 1998 saw the start of a new trend; traditional casinos started acquiring off-shore online casino gambling companies go to www.praize.com improve their profits. An affiliate of the Hilton Hotels absorbed the Australian sports book Centrebet.com. Other Nevada casinos followed and this cycle again spawned a whole new barrage of debates.
Contrary to their earlier dislike of the online gambling industry, the traditional casinos set their sights higher. They're now pressuring the Congress to pass a law that legalizes online gambling. This really is done within an effort to lower production costs; legalization means that they could now shift their operations in the US. Harrah's and MGM Mirage, the two leading casinos in Nevada and undoubtedly owning their very own online gambling sites, lead the casinos in requesting for the regulation of online gaming. Clearly, this move requesting for regulation will not intend to put traditional casinos at par with online websites any more. The competition shifted between independent online sites and Nevada casino-owned sites. A move to regulate means double profits for the Nevada casinos.
Whatever comes out of this new development in casino gambling, gamers are still assured of their gambling fix. Possibly, in the event the proposed regulation is approved, there would be more security in betting online since it's now under US laws. Like before, casino gambling proves itself to be a dynamic and ever-changing industry.
