The Casino Consultants - Your Key to Starting an Online Casino
Gambling is rapidly becoming an acceptable and regular part of our society. Winning lottery numbers are drawn live on television. Odds on sports events, results of horse and dog races and advertising for casinos are carried daily in our newspapers. Billboards, TV and radio ads all communicate the availability of gambling. Gambling has become a daily part of our lives.
There are few activities that have seen more growth over the past several years than gambling. With the coming of the Internet a new opportunity to gamble has arrived: Online Casino Gambling.
The benefits from gambling are to be found in the excitement of taking a chance, the thrill of winning, and the fun of being with friends while gambling. The Casino Consultants can assist you in playing on the other side of the table (the owner's side). The Internet Gaming Market is currently a $10 billion industry. This industry will grow as the interest in Internet Gaming increases. With the advances in technology and electronic commerce, it is now possible to provide a safe and exciting way for individuals to participate in online gaming from the comforts of their home.
Annual projections indicate that internet gambling will be a $16 billion industry by the year 2000.
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Online gambling goes global
By Courtney Macavinta
Just like the crowded strip in Las Vegas, Nevada the Net is becoming home to a slew of money-hungry casino operators.
The latest online gambling parlor opens Friday, thanks to Torrey Pines Nevada, a gaming and entertainment company, and Casinos of the South Pacific, which have set up the new operation in the Cook Islands.
The owners are betting on the success of their year-old beta site, where test users have bet more than $3 million a month using play money.
Although surfers in the United States will have access to the site, the off-shore casino is being heavily marketed in Asia, Europe, and Australia because online gambling is not regulated in those regions. U.S. lawmakers have been gunning to shut down gambling sites, making the Internet an unattractive place for the casinos.
"We're staying away from the U.S. purely because we don't want to get meshed into what the regulatory people may do. If they start to favor online gambling, then we'll look at the market," said Jan Oliver, president of Cactus Consultants, which handles investor relations for the joint venture.
Torrey Pines is a publicly traded company and has received more than $1 million in funding for the project since January, according to Wendy Miller of Cactus Consultants. The company also hired the Big Six accounting firm KPMG to audit its financial transactions.
Through a clearing house in Europe, players can place credit card wagers ranging from $1 to a maximum bet of $50 per card. There is a $250-per-week betting limit per player for all games, which include Joker Poker, Straight Slots, Draw Poker, and Black Jack.
Winnings will be credited to an account set up for each player. When players choose to withdraw funds, they can get a cashier's check mailed to them or have the money wired to a bank account overnight, Miller said.
Consumers are increasingly trusting the security of online transactions, a trend that will help the online gaming market flourish. Bets sent to Casinos of the South Pacific over the Net are secured by 132-bit encryption, which offers extremely strong protection for data. In the United States, for example, the strongest export encryption product ever approved is only 128 bits.
Online gambling operations in the United States have been under fire by regulators. Currently, gambling is overseen by states, but a congressional bill was introduced in March to stop Net gambling by digital card games, slot machines, horse races, or virtual poker. New York is considering three different proposals to outlaw the practices, while a California bill is moving to keep minors from wagering online.
To taper threats of stricter regulations, a voluntary code of conduct written by the Interactive Services Association (ISA) Interactive Gaming Council was introduced last week. The guidelines target protecting the privacy and security for Net wagers, raising standards for truth in advertising, and requiring local licenses for gambling operations.
Online gambling goes global is an article written by Courtney Macavinta for CNET News.com on May 14, 1997 and can be found at the following URL: http://www.news.com/News/Item/0,4,10667,00.html
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