How Online Gambling Affects the Gambling Industry
In this day and age, we pretty much use online means to do what we normally do. For example, if we want to buy groceries, we would have to personally go to the store to buy whatever it is that we want (or need).
Nowadays, we simply can fire up our mobile devices, buy whatever it is that we want completely online. This has completely shifted our focus about many things as we shift towards using online means for just about everything (well, almost).
Gambling, before, used to be something where we go to a live casino like those found in Vegas and we marvel the impeccable architecture and the games that are available for us to play in the premises.
However, with the emergence of online gambling, our focus has shifted from going to live casinos to playing casino games at the comfort of our own home.
In this post, we will explore how online gambling affects the gambling industry as a whole.
Loss in Revenue, Particularly in Indian Gaming
The many casinos in the United States would generate revenue and would provide income and other opportunities to the poor and the marginalized. A portion of the money would be spent in favor of enriching the lives of the poorer communities and some of it will also be spent on providing more job opportunities for the less fortunate.
An example of this is the casinos that were operated by the Cherokee Nation. Some of the funds that were generated were reinvested to help promote job growth and would give the members of the Cherokee tribe some steady employment opportunities.
According to a couple of studies, the revenues that are generated by live casinos have plummeted to a considerable degree. That is why those casinos that are operated by Indigenous tribes are looking to invest more money in online gambling since it was found that money can actually be earned using that medium.
A Great Source of State Tax Revenue
Since 2008, live casinos were not able to remit a considerable amount of state tax revenue. It can be due to a number of different factors including not a lot of people want to spend money in the casinos, among many others.
However, in a study conducted a few years ago, it was found that online gambling has actually increased the state tax revenue by a huge margin. That means that governments, as well as casino owners, should look into this as a primary source of state tax revenue.
There is Far Less Risk
Another reason why there is a huge increase in people playing more online casino games than the land-based ones is due to the fact that the price is much cheaper online as opposed to going to a live casino.
For instance, a player that goes to a land-based casino might pay a minimum of $10 just to be able to play a game of blackjack. Conversely, someone who plays an online version of the same game may only be required to pay a measly $0.10 per game.
Although on paper, it looks minute, collectively, you can actually see a huge difference at the end of the day.