Online Casinos Continue to Put Pressure on Brick and Mortar Casinos
Online casinos offer better value to gamblers than brick and mortar casinos. They do not have the overhead of a Las Vegas or Atlantic City casino and can therefore offer better odds and bigger bonuses pin-up kz . Traditional land based casinos attract visitors with glitzy hotels and fancy restaurants. In 1976 gambling was legalized in Atlantic City. Las Vegas casinos realized that they would need to do more to attract East Coast visitors than just offer casino gambling. This was the beginning of the Las Vegas Mega-Resort. The Mega-Resort caters to the entire family in order to become a vacation destination. It now costs an approximately $5 billion to buy the land and build a resort on the Las Vegas strip.
In 1986, Foxwoods opened as a bingo hall on Indian land. Foxwoods added casino table games in 1992 and slot machines in 1993. Atlantic City was now in the same position as Las Vegas. They needed to offer more than just gambling. Atlantic City handled the problem the same way that Las Vegas did; they threw money at it. Foxwoods location attracted millions of visitors and they continued to grow throughout the 1990’s and the early 2000’s until a downturn in the economy forced states to loosen laws regarding casino gambling. Today Foxwoods is the largest casino in the world and their business is being stolen by smaller casinos. They have opened the MGM at Foxwoods in order to bring in top line entertainment. This again costs money.
The next step in this cycle is online gambling. Online casinos are more convenient than any local casino, so no one is going to open up closer to the gambler. When an online casino is losing business they also throw money at the problem. Online casinos do this by offering bonuses to the player, not with white tigers in the lobby.
Online casinos are run out of small offices with a limited number of employees. These offices are in small countries with legalized gambling and limited taxes. The casinos pay licensing fees for the software that they use. You would not be able to tell an online casino from a telemarketing office just by looking at it.
The low overhead allows internet casinos to offer “Better than Vegas” odds and bonuses on deposits. How often does a land based casino match your first deposit? The competition for new cyber gamblers is fierce and the bonuses continue to increase. The problem is that online gambling is not exactly legal in the United States. Why not? Because it is not taxed! This is where the problems start.
The US Government has no interest in the individual gambler. They are trying to choke the money supply. The theory is that once there is no money to be made by offshore casinos they will go away. Then either gamblers will go back to traditionally taxed land based casinos or the taxing laws will change and the casinos that are paying tax will be allowed to open online casinos. Las Vegas has a new law that allows e-gambling in hotel rooms while several states are attempting to tax internet sales. Will this create the new “Atlantic City” for current online casinos? Will they figure out a new way of throwing money at the problem? The answer is yes and the cycle continues.
The origin of online casinos dates back to 1990s when the first casino was launched live on the Internet. Now it has become very popular with all age-groups and backgrounds coming online to take part in casino games. It basically involves earning money by way of gambling. The gambling games or activities initially were played in Brick and mortar casinos, an outlet which hosts these games along with live entertainment. However, the internet has enabled game developers to devise online casino that can be enjoyed from home. The online games are user-friendly, accessible and practical.
It is regarded that the online gambling sector is a $6 billion industry which is regulated in 40 countries worldwide. For instance, there are more than 1500 gambling centers in the United States with many located in Las Vegas and Atlantic City. Now the world wide web has launched several leading US casino sites like Slots Oasis, Cirrus, Rushmore, Royal Ace, Diceland, and more.
There are commonly two types of web-based casino’s in which visitors can directly log into the site and play a game without the need to download any software. The games can be played in browsers like Java, Macromedia flash and shockwave. Besides, it requires high bandwidth to run the graphics, animation and sound’s of the game. On the other hand, download-based internet casino’s requires players to download particular software to access the games. This is a better way as it provides all necessities to play the game without any browser support. These web-based casinos function similar to a traditional casino by incorporating the same type of rules and rewards. Furthermore, there are several security measures being levied on these casinos to ensure that they are safe and not fraudulent.
Additionally, many leading web casinos provide signup bonuses to players who make initial deposits. The bonus range is between 10-50% depending on the amount of the first deposit made. Furthermore, the player will need to wager the bonus amount around two to ten times before cashing out the earnings. The money earned can be transferred to one’s own bank account or through online payment accounts.