Summary
Having worked with several Internet Gambling Sites on sponsorship and advertising opportunities I've seen the brunt of the effects of US legislation.
Does it protect consumers to outlaw these guys? Does it provide the opportunity to control problem gambling more?
Is this about protecting consumers, or the booming economy in Las Vegas?
I question the need to outlaw any company that can respectfully make a profit, deliver goods to consumers who want it, and can do it in a responsible and reliable manner.
This legislation stinks.
Analysis
It seems to me that companies like Party Poker and Bodog have something Americans want. The question becomes, "is it destroying families to offer it."
Truth is these same consumers are already placing bets with bookies, playing in local poker games, and flying to Vegas for the Superbowl. And its what they have to loose that makes the moral stance on this industry very suspect.
I think online gambling provides a unique opportunity to monitor and prevent gambling abuse. The technological advances and the ability to record data transmitted to these sites should provide the government a load of responsible data on the habits of online gamblers.
The owner of the Hollywood Park Casino in Los Angeles told me that 3-5% of gamblers are problem gamblers. And it was his goal to keep those people out of his casino. As he told me, life is a strategic gamble. Every decision we make we take a chance. Gambling is a natural extension of life, and for those who understand it, an enjoyable experience. I don't disagree.
Now I admit that the though worries me of Americans rampantly gambling online. And there should be concern. But with concern comes the ability to examine, learn, and adjust the industry so it's safer for consumers.
I think legislation here was an overreaction lobbied by special interests hoping to keep gamblers and gambling to the existing market. Their moral plea, is clearly just an attempt to keep more money in their pockets.
You see, we've already agreed to allow gambling in every state. We've not no moral ground to argue here. In the end, Vegas and the existing gambling pundits bet that the American public wouldn't fight back.
So far, they are right...
