Winners and Losers With Federal iGaming
Online gaming legislation is beginning to take off at the state level with Nevada already legalizing online poker and several other states considering similar courses of action.
Federal legislation, however, continues to stall with no real progress or hope for progress in the immediate future.
While many think that federal legislation is the way to go for online poker and gaming, others believe that state legislation is the better answer.
Today we take a look at the winners and losers when it come to proposed federal legislation.
Later in the week we will look at the winners and losers in regards to state legislation.
Federal Legislation - The Winners
Online Gaming Companies and Casinos
Federal online poker and online gambling legislation's biggest winners will be the online poker and gaming companies and the live casino industry as a whole.
With state legislation, an online gaming company will have to comply with 50 different sets of regulations and laws in order to eventually serve the entire US. This is not considering interstate pacts.
Federal legislation would mean that a company would have to comply with only one set of regulations should a state not choose to opt out.
The casino industry as a whole benefits as this gives them the mean to expand nationally and really just about every state minus Utah since it looks to make online gambling in all forms illegal.
Federal legislation offers the path of least resistance to online poker companies and the major casinos and will give larger companies like Caesars the chance to grow their empires even further.
Federal Legislation - The Losers
State Lotteries and Native American Tribes
As proposed federal legislation currently stands, the biggest losers in federal legislation will be state lotteries and Native American tribes.
State lotteries will indeed be impacted by a move to online gaming. Live sales will indeed falls as players will be able to buy lottery tickets, gamble at blackjack and play poker online.
Lotteries will adjust somewhat, or at least those that will be allowed to have online gambling games. Others will see profit loss that could impact state revenue.
Native tribes at present are one of the biggest opponents of federal online gaming legislation.
First, many tribes do not want to be regulated under the federal government's rules. They want to control their own sites.
Next, there is concern over how this will impact the revenue of their live casinos, especially in states where they have no competition such as Connecticut.
Their concern is a combination of loss revenue and jobs and a loss of sovereignty.
While there are indeed other winners and losers in regards to federal legislation, the above are the largest.
Later in the week we will look at the winners and losers at the state level and why players may benefit more with state legislation over federal legislation.