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#1
06-12-2005, 03:29 PM
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Something I still have not figured out
is why the big gambling corporations in the U.S. are not trying to get in on internet poker. How much could a WSOP site make? Forget sposorship by Party Poker, why doesn't the WPT make thier own site?
It's not like people will stop going to Vegas (or Tunica for that matter). Plus they could work in promotions for comps, etc. Where is the synergy? Or does egaming need to be "more" legal in the U.S. first? I'm not an industry expert and am still confused by this. 
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#2
06-12-2005, 03:32 PM
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Re: Something I still have not figured out
US law, I imagine, would make it very tough. It's still a grey area of the law, and I doubt a large corporation would risk it.
However, I'm sure they're eating their hearts out right now as they hear about the Party IPO and the success of other sites.
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#3
06-12-2005, 03:40 PM
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Re: Something I still have not figured out
[ QUOTE ]
However, I'm sure they're eating their hearts out right now as they hear about the Party IPO and the success of other sites. [/ QUOTE ] See this is what I am thinking too! If large gambling corps are chomping at the bit to get a piece of this, how long before they effectively lobby for change in our (U.S.) policy? Yeah, and fu[/i]ck Jon Kyl.
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#4
06-12-2005, 04:01 PM
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Re: Something I still have not figured out
US gaming companies would love to get involved but have not do to legal issues. MGM Grand and Harrah, for example, have unsuccessfully tried the online casino business but just couldn’t make it without allowing US customers. These brand names mean next to nothing outside of North America because companies like Ladbrokes and William Hill are the recognizable names in Europe. Speaking of Ladbrokes, the reason they don’t allow yanks is because they are part of the Hilton empire... a US company. The Visa and MasterCard have also shied away from being involved with egaming companies, do to fear of being charged with aiding and abetting under the Wire Act and also because of fraud worries.
I sure many of the larger US casinos groups could jump into the online casino at a moments notice but I don’t think it is really on their list of priorities. Vegas is diversifying itself, and while casinos still bring in the bucks this is far from their only source of income these days. Also, even with the exponential online casino growth, egaming is still a small percentage of all gaming revenue. Governments and B&M casinos still take an outrageous percentage of gaming revenue. cubs
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#6
06-12-2005, 05:02 PM
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Re: Something I still have not figured out
[ QUOTE ]
Hey cubs, I was hoping for some insight from you on this. I always appreciate yr thoughtful replies. [/ QUOTE ] i agree - these kind of replies are good to read
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#7
06-12-2005, 05:14 PM
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Re: Something I still have not figured out
How much could a WSOP site make? Forget sposorship by Party Poker, why doesn't the WPT make thier own site? <font color="green"> ESPN launches 'free' poker room By Alex Tanner 09-03-2005 04:20 PM Related: Gaming US sports TV channel ESPN has launched its own poker website, signing up more than 30,000 users in its first week. The company is the latest to launch into the burgeoning online poker sector, and is a natural brand extension for the channel which already screens TV programmes such as the World Poker Tour and the World Series of Poker. However, ESPN's poker room differs from its competitors in the market - such as Party Poker and Paradise Poker - as users do not gamble with real money. Subsequently the business model differs from the more normal online poker offering, where operators charge either a 'rake' (a fee to play at a table) or a percentage of winnings. Instead ESPN says the site will broaden the scope for licensing fees associated with the brand, intimating that it will generate revenues from sponsorship and advertising opportunities. The channel also intends to launch a wireless poker game, a book, DVDs of the 2004 World Series and other products such as branded chips and tables. The reason behind the decision to keep the site 'free' highlights a problem for US companies wanting to get involved in the online poker boom. Online gambling is considered illegal by the US Justice Department, and although the federal authorities have to date turned a blind eye to those US citizens playing poker online it is likely they would take action against companies based in the US offering gambling over the internet. The result is that US companies are, ironically, missing out on a market dominated by their own consumers. Gamblers lost $237bn online last year, with the US representing the lion's share of the market, American citizens being responsible for $73bn of that figure. The market is forecast to grow at an annual rate of 22 per cent each year to 2008. </font>
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#9
06-12-2005, 06:04 PM
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Re: Something I still have not figured out
[ QUOTE ]
why doesn't the WPT make thier own site? [/ QUOTE ] You mean like this ?? It's supposed to go live (for real money) this quarter. I found out about it on a radio show that my buddy co-hosts. I think it is show #6 . . . the one with Steve Lipscomb (sp??). busguy
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#10
06-12-2005, 07:18 PM
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Re: Something I still have not figured out
There was a TV programme on here in the UK a few days ago that said one of the major reasons the big Las Vegas casinos aren't involved yet is because the Nevada Gaming Commission (?) can and will cancel gaming licences for the slightest misdemeanour, and this possible catastrophe stops them even being seen to be lobbying for changes.
I think it was one of the bosses of Harrah's (?) who made a very careful and precise statement where he said, yes, they would consider starting an online poker site if and only when they were positive that all laws made it absolutely legal for them so to do.
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