The fear of traditional casino operators regarding loss of business due to online casinos has been given a break following the results of a recent research. This research shows that online gambling does not pose a threat to the business of traditional land-based casinos. Presented at the recent iGaming North America 2011 conference, the research showed that online gaming can actually increase the popularity of the traditional gambling houses. This conference was held in Las Vegas in May for three days and was an inaugural event that aimed at giving the traditional casinos a venue to network. They have a place to examine and discuss different aspects of online gaming now.
A Venue Where Representatives of Different Sectors Met
Representatives of different sectors of the gambling industry like vendors, suppliers, operators, government regulators, and consultants came together. In iGaming North America 2011 conference, various topics were discussed. These included global reach, opportunities, technological issues, commercial success, and many more topics that most land-based casino owners had never discussed or known before.
This conference was organized by Bola Verde Media Group, Lewis & Roca, and the Innovation group. Bola Verde is a St. Louis-based consultancy group which provides its clients with research and analytics of the online gaming industry. Lewis & Roca is a law firm that represents clients in the industries including casino operators, gaming equipment suppliers, investors, and other collateral business dealing with the casino and gaming industry.
The Innovation group provides consultancy and advisory services and is deeply involved in evaluating market opportunities and helping to draft
gambling laws. This company has conducted a primary research to find out the impact of internet casinos on traditional gambling houses.
The conference was attended by over 300 delegates and featured well-known figures in the online casino industry. The delegates expressed the desire for the coexistence of both online gambling and land-based casinos. This has been the main concern showed in the conference.
Debate on the Issue of Online Gambling vs. Traditional Casino Gambling
One of the prominent delegates Jan Jones, Senior VP of communications and Government relations for Caesars Ltd., emphasized the need for responsible business strategies to strengthen the relationship between online gaming and land-based gambling establishments. She noted that younger people are also getting interested in gambling, with majority choosing online gambling, though the average age of the gambling patron was 50 years. Therefore, instead of fearing the online gambling industry, its better to develop an online presence as it works to boost the total number of people interested in gambling.
Traditional casino owners were not totally convinced by the arguments. They expressed contrary opinion that there is a declining trend in the number of land-based poker players as a consequence of rising number of internet gambling games. Though Steve Rittvo estimated that if the United States legalizes online gambling, the gambling market could double in the next five years.
The results of the research are not withstanding, and the debate will go on, it seems. Looking at the present scenario, it seems the traditional casino owners will have to come in terms with the online gambling industry and be prepared for peaceful coexistence in near future.