It seems the US will soon (early 2012), once it's properly structured, ammend the current Gambling Legislation favourably, whilst ensuring it naturally gets it's fair share of Tax Revenue. The incomes from the sites is rising fast that the USA Govt cannot afford to miss out on a slice.Edited By: Primer Nov 21st, 2011 at 10:50 PM
Once online gambling becomes legal, naturally this will open the market to both existing and new online operators, from both the exisiting online world and the bricks and mortar world.
"Trump Entertainment Resorts disclosed in a securities filing it will form a joint venture for Internet gambling with Trump, together with his daughter Ivanka Trump, and Avenue Capital Group, the $12 billion hedge fund firm controlled by billionaire Marc Lasry. “We have been looking at this for a while,” Trump says. “We have the hottest brand in the world according to many and we think we will do extremely well because of the Trump brand.”
Trump and Lasry are in the final stages of selecting a management partner, negotiating with undisclosed third parties that have “experience in operating on-line gaming businesses in jurisdictions outside the United States where on-line gaming is currently allowed by law,” according to a Trump Entertainment Resorts Securities & Exchange Commission filing." (Forbes)
It is evident "the big boys" (Wynn etc) are and have been doing their work, including due diligence, laising with potential partners and lobbying the US govt in preparation for a positive outcome in 2012.
So what will this likely mean for existing players?
Like most things, there will be a mixture of positives and negatives to come out of this. With a reopening of the USA online market, more casual poker players will help grow the market and henceforth create better value buyin tournaments, but also larger fields to get through (read more variance). With more bricks n mortar casino's likely to enter the market or take stakes in established brands, it is likely the market will be highly fragmented with many online sites competing against each other, but as in all business, the better brands with the better offerings will consolidate.
2012 will be an interesting time for poker. The companies will make vastly more money but will it also become harder for the established regs to continue doing well or will the vast sizes of fields make it that much harder, at least in mtts. Cash games could be another area altogether.
Interested to hear what others think...
ps: go Aussies in the Presidents Cup!
excuse typo's/grammar was rushinnn... :)
the larger fields will just make regs more money, even tho it will be a while before fields reach pre-BF levels
Please poker...come back!
it will...it's too big a business to let go for govt's...
frizzlefry777 says, the larger fields will just make regs more money, even tho it will be a while before fields reach pre-BF levels..
What makes you say that? Bigger fields means more variance usually which affects even pro's, no?
I think within 6 months of any new regulation being passed allowing online poker back, the numbers will build up again. The issue is will the players be scattered across many new sites (eg Trump) or will most return to say 2-3 sites? I suspect you will see the sites with 'the best value' tournaments consolidate the most people (ie stars).
what happened to the three states that was approved for legalization on internet gambling?
They approved themselves