There's no stopping it, everyday online gambling gets closer and closer to becoming regulated in the United States. International Game Technology (IGT) spent $90 million Wednesday to buy a privately owned Internet gaming provider, presenting the Reno-based slot machine manufacturer its first access to the expanding online gambling market.
Steve Kane's Waltham start-up, GameLogic, was attempting its first high-profile project in the United States, a partnership with Foxwoods Resort Casino that had its quiet launch last Monday. By Friday, Connecticut's Division of Special Revenue had issued a cease-and-desist order, and it seemed like GameLogic's luck had turned sour but that hasn't slowed the industry.
Online poker is on a winning streak. According to research firm River City Group, Internet poker alone is a $2 billion-a-year industry with a million players monthly. ComScore Media Metrix -- which measures all U.S. Internet users at home, work and college locations -- reports more than 29.1 million unique visitors to online gambling sites in April, out of a total audience of 165 million.
The rise of the internet during the 1990's may become known as the greatest event of the 20-th century. It has become easy for people to find and communicate with those to whom they would have no access prior to the invention of information superhighway. While the benefits of this are spectacular, business people, lawyers and judges have had to tackle issues that arose as a result.
It should be noted that online gambling does not have many vices of land-based casinos. Internet casinos do not endanger neighbors, nor do they promote prostitution, drug dealing and other illegal activities around the casino. The three main issues facing Internet gambling are consumer confidence, wagering by minors and gambling addiction.
It's just a matter of time, before the Internet wins the bet...
