You know what? On second thought, maybe I don't want online casino gambling to
become regulated in the U.S. after all. With the way things are right now,
nothing has really changed except that there are far less online casinos
accepting U.S. players. In terms of player protection, gamblers are just as safe
as they've always been.Granted, having less options to choose from, U.S.
players might be more inclined to open an account at an unscrupulous, rogue
casino operator like the Crystal Palace Group of online casinos. However, the
fact remains that players still get the best in security protection and gaming
fairness. There are still plenty of online casino operators regulated in
international jurisdictions who accept deposits from U.S. players. And guess
what? They pay them out too!
Don't get me wrong. I appreciate the efforts that some lawmakers, like
Congressman Barney Frank, are making to overturn the Unlawful Internet Gambling
Enforcement Act. However, what I see as a potential thorn in the side of all
these efforts is monopolized regulation. In other words, as soon as laws are
passed to regulate online gambling, big land-based casino operators are going to
jump right in and dominate the market.
Just this last week at the Global Gaming Expo, Harrah's CEO, Gary Loveman,
made it known that Harrah's is already seriously considering entering the online
casino gambling market in Europe and the UK, and to potentially extend the reach
of its World Series of Poker tournaments. Loveman also said that as soon as
online gambling is made legal in the U.S., Harrah's will launch a U.S. facing
online casino.
I mean you can't blame them. However, this is bad news for the smaller online
casino operators. Brands like Harrah's and MGM are so well-branded throughout
the world, and come with such a high degree of trust, it is practically a given
that the majority of gamblers (especially the new ones) will turn to brands like
this because that's what they know best. Regulation? I don't know. Can't we just
overturn the UIGEA and have things the way they used to be?