This is a guest post by Alan Bryan.
It’s no surprise that Nevada is leading the wave in the legalization of online gambling. Player Verify has joined the long list of companies seeking an online gambling license in Nevada including Caesars Entertainment Corp and MGM Resorts International. Extending its licensing privileges can potentially open the United States to the legalization of online gambling sites like the Facebook Friendzy Apps or online poker rooms like best 10 USA online casinos.
Since casinos are heavily monitored facilities equipped with security personnel, gamblers are identified, their moves watched, earnings documented and revenues taxed. The problem with legalizing online gambling is creating a system online that parallels the tight watch of players and money virtually.
The Business of Online Gambling
“When the unlawful Internet Gambling Enforcement Act was signed almost five years ago, it was believed that the online gambling industry was destined to quickly fade out in the United States,” according to a broad definition of gambling, this assumption didn’t hold true, as the industry continues to grow rapidly. Americans are spending an estimated $4 billion a year gambling online and that in 2011 Internet gambling accounted for $32.8 billion in revenue, according to a comprehensive report on this population released this month by Marketwire.
Online gambling is a venture risk. Starry-eyed by the large potential gains suggested from a successful online gambling company, entrepreneurs are flocking to the industry. Although, smaller industry operators dislike the potential for a strict mandated verification process, as software is expensive, to expensive for some to stay in business.
The Importance of Online Verification
The biggest concern with online gambling is making sure people are logging on from regulated areas and of legal age (18-years of age or older). Verification tools are increasingly becoming more important for interactive sites. As more important data is stored online more hackers try to reach it. Player Verify instantly checks identities scanning through “a nationwide database of government and public information. A player is verified only if the information submitted lines up with the databases, easily screening out potential problems,” says Chris Sieroty in his recent article regarding the subject in the Las Vegas Review-Journal.
The Future of Online Gambling in the United States
New laws suggested in DC would open online gambling permissions to sports betting, wagering on horse races, events and gambling through mobile apps. Although online gambling is said to have a 58 percent disapproval rate among Americans according to an article by WYNC, New Jersey lawmakers stand behind it. Gambling playing a large role in total revenue for the Garden State, New Jersey Gov. Chris Christy was quoted by WYNC as telling “reporters in January that he believes New Jersey should be “the epicenter” of the industry. It’s safe to assume that other states earning major percentages of revenue from gambling will follow suit. Pennsylvania is the second-highest grossing gambling destination in the nation behind Nevada.