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The following article was published in our article directory on November 15, 2010.
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Article Category: Entertainment
Author Name: Casino Games Guru
The uncertain legal status of online gambling may soon be addressed if HR 2267 is passed into law. The bill, formally known as the Internet Gambling Regulation, Consumer Protection and Enforcement Act, would establish an Internet Gambling Licensing Program that would empower the Secretary of the Treasury to grant licenses to online casinos so they can operate in the US, uphold the rights of players and enforce taxes on Internet gaming.
Although land-based casinos have staunchly opposed legalization of online gambling in the past, their stance may be moderating as they realize the big revenues that can be earned from Internet casinos. According to one estimate, Las Vegas casinos earned some $13 billion in 2009, down from $15 million in the past year. By comparison, offshore gambling sites earned $6 billion from US-based players. This represents a huge untapped market that casino owners are eager to exploit: some analysts have said that the online gaming industry will expand by over 50% over the next five years. If indeed HR 2267 becomes law, expect to see an explosion of growth in the US Internet gaming industry as Vegas casinos rush to open their own online gaming sites.
But the legalization of Internet gambling may also have positive effects for the US economy in general. A recently released study revealed that if the US started to regulate Internet gambling, 32,000 new jobs would be produced over the following five years and $57.5 billion in tax revenues would be collected from gambling activities. If sports betting were excluded from legalization, however, some 25,470 jobs would still be created and $30.8 billion in tax revenues would be generated.
The possible legalization of Internet gambling is not the only exhilarating development in the future for the gaming industry. There is also the increasing popularity of mobile gambling, or gambling done on an Internet-enabled mobile device such as a smartphone or an iPad. This allows players to gamble anywhere they want where there is WiFi or an Internet connection, increasing the profit possibilities for online gambling. Although this sector of the Internet gaming industry is still in its infancy, some analysts have already estimated the value of the mobile gambling market at $20 billion by 2010, with the sector ready for further growth as awareness of mobile gaming grows and the use of Internet-enabled mobile devices becomes increasingly common . In fact, a recent study estimated that one in four smartphone users already play in mobile casinos.
Mobile casinos offer some of the most well-liked games played in Internet casinos, including Keno, blackjack, roulette, video poker, slot games and baccarat. All you have to do is download the necessary software and you can play any game you want on your mobile device. However, the most exciting trend in mobile gambling is the introduction of online poker to these mobile platforms. Online poker is Internet gaming's biggest success story of the past ten years and it is expected to become even bigger once people can play it on their cell phones and Blackberries.
Keywords: Online Casino, Online Casinos, Online Casino Games
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