Yes, it is a good thing that the poor and addicted are funding social programs while millions in tax loot goes to service bank and biotech debt, or losing and leaving greentech, or profitable Hollywood.
"Internet may alter odds for casinos; Industry wary of push for legal online gambling" by Noah Bierman, Globe Staff / June 12, 2011
The casino battle on Beacon Hill has been brewing for four years, but one factor could shake up the industry just as Massachusetts is reconsidering whether to enter the game: the looming threat of legalized online gambling.
While Internet wagering was just dealt a setback when the federal government closed down three major offshore operators, many political leaders and analysts still say it is only a matter of time before Congress or states move to regulate and tax the activity.
Related: Boston Globe Back Room
So that's what they are doing hanging around the newsroom.
US Representative Barney Frank, a Newton Democrat, is one of those leading the charge to legalize online poker.
See: Betting on Barney Frank
What effect this would have on traditional casinos is the subject of debate, with some believing it could draw new customers and others concerned it would encourage patrons to stay home and gamble in their pajamas.
Sometimes I blog in them.
But given the Internet’s profound effect on retailing, newspapers, and music, the industry is watching the issue closely....
The official taking the possible threat most seriously is state Treasurer Steven Grossman, who oversees the lottery. On Thursday, Grossman asked the State Lottery Commission to set up a task force to study potential effects of online gambling on lottery and keno sales. The state took in $900 million in profits from the lottery last year, most of which went to pay for teachers, firefighters, and local services.
Also see: Unions Surrender Rights in Massachusetts
“Nobody knows where this is going. Nobody knows when or if we’re going to have Internet gambling,’’ he said. “But I want to make sure that we protect ourselves.’’
Federal law prohibits online gambling companies from setting up US operations, but players have flocked to sites based overseas....
Caesar’s Entertainment has been especially active in trying to position itself as an online poker leader should it become legal. The company owns the World Series of Poker, a live event broadcast on ESPN that has grown in popularity as more players learn to play in online sites based overseas. Its executives believe firmly that it will expand, rather than siphon the existing casino business.
“Other retail who have not really learned how to leverage and manage the Internet have paid a huge price: newspapers, record stores, bookstores,’’ said Jan Jones, senior vice president of communications and government affairs for Caesar’s. “Much of the future is online. Younger customers, that’s where they meet, congregate, and make their entertainment choices.’’
ifOLD.
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Related: Boston Borders Closed
Globe soon to follow?
Also see: Saturday Night Drawing
Didja win, union member?
