If one thing is become clear, it’s that only big companies are going to be allowed to take part in the online poker industry, that has been emerging in Nevada over the course of the last year. So far, total of 19 companies have been approved to run online poker and other gambling operations, while most of them are some of the largest companies that the area has to offer. Very few small companies has even been considered, and none have received their license at this time. This shows that the laws do not open the floodgates for online gambling, and instead only allowed if you companies through.
In order to get a piece of the industry, tech companies, software development companies, and other entrepreneurs are going to have to utilize relationships with existing casinos and resorts in order to be considered. The goal of this approach is not to allow fly-by-night individuals to gain access to the license, and instead to ensure that the companies that run the system are never long haul. This, plus the fact that it is going to provide a huge boost to the Las Vegas economy, and since gambling is their main draw, it only seems logical to limited to their biggest companies.
A number of tech companies have been eager to join the online gaming fray, teaming up with some of the larger casinos and resorts on the Las Vegas strip. You need to acquire a $500,000 operating license in order to even be considered. After that, there are other restrictions such as the number of rooms at your hotel can have, whether or not it has a 24 seven restaurant, bars, and the size of your casino or are also taking into account when you apply for the license. This limits the number of companies that can apply, in most companies that are eligible are interested in getting into online poker.
These companies are the largest companies that have invested in the state, and for that reason they have been rewarded with licenses to offer gambling on websites. Some of the arguments for this approach are the fact that existing casinos can be trusted and have a precedent set through their years in Las Vegas. There are also big, brands that are known around the world and instantly recognize which gives them a better chance for success. This, combined with the fact that previous to this, a legal online gambling companies had been profiting from the industry, leaving Las Vegas with no way to get involved. Online gambling is certainly going to be the way of the future, but just how long it is going to take in order to become normalcy is not yet known.
It will be interesting to see how everything pans out. As of right now, Nevada and New Jersey are going head-to-head attempting to be the first states to gain access to online poker, before federal legislation is handed down, which is expected to take place at some point in the near future. It is not currently known the federal legislation will come in 2013, but almost certainly 2014.