April 14, 2024
Chicago 12, Melborne City, USA

Online Casinos Continue to Put Pressure on Brick and Mortar Casinos

Online casinos offer more value than brick-and-mortar casinos for gamblers. Online casinos don’t have the overhead associated with a Las Vegas casino or Atlantic City casino so they can provide better odds and more significant bonuses. Traditional land-based casinos are popular because of their fancy hotels and fine restaurants. Atlantic City legalized gambling in 1976. Las Vegas casinos realized they needed to do more than offer gambling. This was the start of the Las Vegas Mega-Resort. To be a popular vacation spot, the Mega-Resort offers a wide range of services for all ages. The land needed to build a resort in Las Vegas costs approximately $5 billion.

Foxwoods was established in 1986 as a bingo hall located on Indian land. Foxwoods also added casino tables in 1992 and slot machines to its premises in 1993. Atlantic City was in the same place as Las Vegas. They had to offer more than gambling. Atlantic City responded to the problem similarly to Las Vegas: they spent money on it. The Foxwoods casino attracted millions of tourists and continued to grow through the 1990s and early 2000s until the economic downturn caused states to relax their laws on casino gambling. Today, Foxwoods is the biggest casino in the world. However, smaller casinos are taking their business. To attract top-line entertainment, they have opened the MGM Foxwoods. Again, this is expensive.

Online gambling is the next step in this process. Online gambling is more convenient than local casinos, and no one will open up to gamblers. Online casinos will also spend money to fix a losing business. Online casinos offer bonuses to players and not white tigers in their lobby.

Online casinos are operated out of small offices that have a limited staff. These offices are located in countries that have legalized gambling and minimal taxes. They pay licensing fees to use the software. Online casinos pay licensing fees for the software they use. How often do you see a land-based casino match your first deposit? There is intense competition for cyber gamers, and bonuses keep increasing. Online gambling isn’t legal in the United States. Why is that? It isn’t taxed! Here are the problems.

The US Government does not have any interest in individual gamblers. They want to cut off the money supply. They believe that offshore casinos will disappear once they have no money. Gamblers can either return to land-based casinos, which are taxed as before, or the tax laws will change to allow online casinos to be opened by those casinos that pay tax. Las Vegas recently passed a law that provides gambling in hotel rooms, while other states are trying to tax internet sales. This will create the “Atlantic City” of online casinos. They will have to find a way to throw money at the problem. Yes, and the cycle goes on.

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