Most Recent Online Casino News
Casinos May Gain an Annual $190 Billion in Sports Betting
If U.S. casinos in Nevada and other states plunged into the Internet
gambling market, they would likely gain up to $190 billion annually in
sports bets, said Koleman Strumpf, an assistant professor of economics
at the University of North Carolina, according to www.reviewjournal.com.
Strumpf opined that land-based casinos could capture a large share of
the wagers placed on offshore Web sites about $20 billion per year, as
well as grab about half of the $80 billion to $380 billion market in
illegal sports betting.
"The biggest advantage [the casinos] have is a known brand name,"
Strumpf said. "My guess is the big guys in Nevada could get 50 percent
of this market if they went on the Internet." Yet he said it’s not going
to happen anytime soon.
As a visiting scholar at the Cato Institute, a non-profit libertarian
think tank in Washington, D.C., Strumpf is researching the economics of
Internet gambling and online file sharing.
"The question of how individuals make decisions when there is risk
and uncertainty is a huge, outstanding topic in economics," Strumpf
said. "There hasn’t been a lot of empirical research about how people
make decisions about gambling."
He considers that Internet gambling should be legalized and regulated
because there is no way to stop it.
entire article at:
2004 Online Casino News Archive