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As economic concerns continue to grow, it's becoming very apparent to most analysts that the internet economy, while heavily dependent on consumerism, is still moving along. Most internet company stocks have taken a hit, although the decline is proportional losses felt by all other sectors. Therefore, these companies, while not richer, are just as solvent as they were before. The information super highway, driven by new social media networks, auction sites, dating sites, and other forms of media continue to be strong attractions, taking in millions in advertising dollars on a monthly basis. Thus, it appears that as the USA internet economy continues to mature, less and less consumer focus will be placed on older, more traditional forms of production, such as manufacturing and assembly.
To subsidize state budgets and create jobs, many local governments are suggesting increased legalized gaming. Most states already have some form of lottery, and of this group, a large portion even have casino gaming sponsored by Native American tribes. In many ways, the hope is to reappropriate the wealth taken in by Las Vegas and other gaming centers, and redistribute it along statelines. Some states are thinking out of box, according to Mick Sloan, an analyst with the Meyers-Reed economic firm. "For example, Delaware is strongly considering legalizing sports betting next to its already highly profitable horse betting sites," remarked Sloan. Indeed, many others share this sentiment, seeing Delaware's clairvoyance as the way forward.
Some proponents have even offered new legistlation to legalize online gaming in the USA, a view shared by Rep. Barney Frank of Massachusetts. While Frank is busy with the economic stimulus program, activists are pursuing internet gaming as yet other way to create income. Chip Nester, a former Las Vegas casino CEO, recently stated: "I see what Delaware is doing, and I see what the internet is doing, and I put two and two together. Legal, regulated online gaming is the way forward. Look, in the fall alone, NFL betting profits to sportsbooks around the world goes into the billions. What's more, in the winter, NBA betting is yet another huge money maker. We're missing opportunities..."
Major software companies also see what is happening with sports betting and think the same can be done with online casinos as well. Nester and Sloan recently co-authored a white paper title 'In the Groove: How Gaming Can Help the Economy'. In this paper, Nester and Sloan cited offshore gaming profits as "case and point" for legalized gaming in the USA. According to the authors, "It may be possible, for example, to capitalize on basketball betting, but we think there is substantially more money in online casino operations. Teaming up quality marketing teams with online casino games software providers creates instant, sustainable profits." The offshore internet gaming economy is purportedly valued at over $12 billion a year and rising. Given this fact, Nester and Sloan make a good point.
In the end, the tolerance for online casinos or sports betting in the USA comes down to the voters. Legislators and activist groups can only go so far: it takes the will of the people to approve new fiduciary law, along with the creation of a internet gaming regulatory board. Concludes Sloan, "The creation of USA online casinos might not be far off, but we still have a ways to go in terms of getting public approval. Liberal law makers are already onboard, but we still need to get the rest of the electorate with us. In time, this will happen - I just hope it happens it time to benefit our national economy."