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OnLine Gaming Builds Momentum

The future is here. You can now partake in virtually any type of gambling--slots, table games, bingo, lotto, sports wagering, etc.--from the comfort and privacy of your own home.

It was only a matter of time before Internet gambling became a reality. The industry, currently a stage of infancy, is about to explode into a big-time money maker. Still, there remains quite a few doubters out there who believe that there are obstacles towering in front of Internet gambling that are too large to overcome. A lot of people, for instance, believe that gamers will not be turned on to the new concept because they prefer the noise, visuals, excitement and free alcohol found in the casino environment.

Gordon Graves, chairman of the board of Multimedia Games, disagrees. He contends that the lottery is a perfect example of wagering activity without the ambiance or environment of a casino.

Many think federal and state authorities will not allow electronic gaming. This is where we, once again, refer to the fact that there are or no rigid guidelines specifying what can and can't be done on the web. There are presently no regulations governing Internet gambling, and according to James Lisowski, a gaming attorney who represents World Wide Web Casinos, the government has taken a hands-off approach. The only government oversight on the net so far has been the restriction of pornography, and the courts have made it clear that such rules will not be applied to gaming.

The federal government has, however, created a gaming oversight committee, which is believed to be a first step toward a national tax on the gaming industry and could ultimately lead to Internet gaming regulation. Lisowski and others believe that the federal government will let the states act as their watchdogs for the next two to three years.

"I think we're going to take a lot of hits and get a lot of bad publicity," said Graves. "The Internet will become a stalking horse (for detractors), through there will be a two to three-year window where there will be little federal intervention on Internet gaming."

Perhaps the biggest concern about the success of Internet gaming is the common belief that the security of digital transactions via the Internet cannot be ensured. Such beliefs, over time, have become more and more scarce. Marketing consultant David Konig pointed out that 14% of Internet users have already made on-line purchases. Encryption technology has improved to a point where getting ripped off is highly unlikely.

Some of the proposed Internet operations plan to use a Visa debit card, from which winnings and losses are automatically added and subtracted. Debit cards holding winnings can be taken to local ATMs and the money on them withdrawn in the same manner as bank debit cards. If you're excited and/or curious about the concept of on-line gambling and you want to check it out, go to Rolling Good Times' Incredible Links page and look under "On-line Gambling."
Source: International Gaming & Wagering Business

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