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Non-Tech : Gambling, The Next Great Internet Industry
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To: Herc who wrote (794)5/21/2002 8:53:21 AM
From: i-node  Read Replies (2) of 827
 
I predict that in a few years that the gambling industry will have its hands full trying to compete with peer to peer internet gaming software/sites.

Peer to Peer? I don't think so.

But the online gambling industry does have the possibility of doing well over the coming years. They have to overcome two problems: (1) There are a ton of online casinos out there that pay slowly or not at all, and (2) there is no simple way of handling paying and receiving. Until these issues are resolved the industry will stagnate.

Today, online gamblers are gambling in three ways. First, players are gambling on whether the games are "fair". Second, they're gambling on whether they will receive their money, SHOULD they happen to win. And finally, they are gambling in the traditional ways. The first two items above are not faced by players at land-based facilities.

Until a secure means of returning gamblers' money to them, INSTANTLY, is available, the industry is going nowhere. What is needed is a credit-card like device where a player can deposit money up front and have money transferred to and from that account instantly. Credit card companies do NOT want in the online gambling business and they are effectively terminating the relationship.
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