Nevada’s First Online Gambling Licenses

On August 31, 2012, in Gambling Headlines, by Bud Thornton

Online Gambling Licenses NevadaAfter years of waiting, the first couple of online gambling licenses were handled by The Nevada Gaming Commission. This is a major step for online gaming establishments that have been waiting for these licenses in order to get one step closer to offer real wagering for millions of players.

One of the first beneficiaries of this fresh out of the oven licenses is International Game Technology, an online gambling company based on Reno Nevada and Bally Technologies Inc. Both companies received approvals from the Nevada Gaming Control Board on last June.

With these new licences, the casino industry in the U.S is expected to profit on at least $13.4 billion in a five years term, according to researches of H2 Gambling Capital. It’s important to keep in mind that these approvals are just the first couple out of hundreds of licenses that are expected to be given, paving the way for a huge expansion of the U.S casino industry.

Just to have an idea of the kind of revenue that the licenses could generate, keep in mind that in 2011, the online gambling industry accounted for $32.8 billion in revenue worldwide. Right now, Japan, Germany and the U.K are the biggest contributors; however the U.S expects to be placed on the top 10 in the next decade.

Ironically, getting a gambling license is not a matter of luck. In order to get one, the requesting companies must approve a series of strict requirements, including extensive testing of their technology to ensure fairness to their players. Online poker sites are also due to approval, which is expected to be by early 2013.

Last year was a big cornerstone for the online gambling industry. The U.S Justice Department cleared the way for online gambling, and so far 10 states have authorized or are still considering the legalization of interactive betting inside their borders.

Hopefully, both International Game Technology and Bally Technologies become leaders in this exciting new showground of online gambling, facilitating the process for hundreds of companies still waiting for their turn to take a piece of the pie.

 

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