Implications of Legalized Online Casinos

January 10, 2012

Connecticut State Governor Dannel P. Malloy is the last in a long line of US officials to overturn current gambling legislation which until now, made online gambling illegal in the State of Connecticut. It seems that the entire US Government is being forced to change their approach to online casinos. Once the precedent was set, this was inevitable, as no US State will want to miss out on its piece of the online casino revenue pie.

However, we need to step back and consider something here. Many states in the USA list real world gambling as a high revenue tax earner each year. Consider Las Vegas, where over 90% of the local population is involved either directly or indirectly in the gambling and casino sector. What happens when even a small percentage of the millions of people who visit Las Vegas to gamble every year decide to stay home and play online slots instead? You guessed it; real people living real lives will be affected. What happens when that percentage rises to a considerable amount of lost customers? People lose jobs, companies close down, and the local economy suffers. Listen up folks, if you live in Las Vegas or Atlantic City, then you need to wake up and realize that the very industry which keeps you and your family alive is likely to take a huge hit at the hands of the US Government.

Now, we have to ask, is this such a bad thing? We all know how horrendously commercialized places such as Las Vegas have become. They have been turned into the ultimate cash cow, taking money from visitors at every stage from A to Z. Cries of corruption and foul play are forever being heard in legal circles regarding these carefully treasured monopolies. So we have to say that a little competition would be healthy.

The real issue is how far forward the US Government is looking. Is it simply trying to grab a chunk of online casino tax revenue without considering the future implications for real world casinos and the millions of people they employ? From what we have seen so far, it appears that almost no consideration to the affects upon specialized gabling focused local economies that a mass legalization of online gambling would have.

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