Harsh Reality Following Community Euphoria

02/24/2012
By Pamela PattersonGoogle

Only one month has passed since the U.S. Department of Justice’s landmark decision to exclude online gambling from the restrictions imposed by the 1961 Federal Wire Act and industry excitement is already beginning to die down.  What began as an earnest hope that the creation of a legal framework for intrastate online gambling was right around the corner has now become a sober understanding that real progress is not so close at hand.  Casino reviews and industry specialists explain that the excitement was premature and that more needs to be done before legal American intrastate online gambling becomes a reality.

 

Deutsche Bank Analyst Andrew Zarnett released a report stating that the U.S. online casino industry overhyped the USDOJ’s decision.  On the bright side, Zarnett’s report explains that the USDOJ’s decision does reflect a change in the government’s perception of online casino gambling; an argument about whether or not online gambling should ever be accepted has now become a discussion about when and how it should be legalized.  Nonetheless, no solid change to the existing legal reality arose from the USDOJ’s revision.  Zarnett suggests that focus be placed on local state online gambling using the precedents of horse racing, state lotteries, and “brick & mortar” casinos; this frees the operators from the dependency on Washington lawmakers.

 

Vegas lawyer Jennifer Carleton explains that in spite of the good feelings felt among online casino operators following the decision, the lack of permanence should be a cause of serious concern.  The bottom line, explains Carleton, is that without federal legislation, nothing can really move forward with legal intrastate gambling.  That said, Nevada has already moved forward with their own online gambling legislation that should, assuming the federal government eventually allows USA online casinos, position the Silver State advantageously. 

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