A Wishful Thinking on the Casino Industry

Internationally, one reason why casino gambling is illegal is because many of these countries have not passed the legislation to legalize it.

In several of these countries, especially on the South American continent, legislation is a tedious process that requires extensive lobbying and in some cases, constitutional changes.

During the next decade, it is foreseeable that, with continuous lobbying by both residents and outside interests, some of the legislation will change.

Countries considering legalizing gambling will have to be cognizant of the infiltration of criminal elements into the industry.

One way to safeguard against these elements would be through stringent regulations. These regulations will have to be reviewed, and enforced closely.

Unfortunately, this vigilance will bring about an increase in the cost of background checks as well as an increase in the amount of time taken to conduct them. At the end of the day, it is better to be safe, than sorry.

An example of the need for stringent regulations in new casinos has already occurred. The Windsor Casino in Ontario, Canada, had been opened for less than one month, and individuals were arrested for trying to defraud it.

The integrity of the casino industry will remain intact only if the regulations are strictly enforced.

Another future trend is the introduction of different games.

Already, we are seeing new games being introduced in the casino industry. Asian games like pai gow will increase in popularity. Other games such as Caribbean poker will also be played on land-based casinos.

There will be a need for more observation by the regulatory agencies for these newer games. Keno is another game that is having, and will continue to have, a tremendous impact on the casino industry.

The game originated in China to raise funds. Although it is similar to bingo, the house has the largest advantage of any casino game. Notwithstanding, since the tickets are inexpensive and the jackpots can vary from the thousands to $250,000, gamblers play it incessantly.

Before, this game was played only in Nevada. Now, it is accepted in other areas of the U.S. and the world.

Within the U.S, perhaps the largest future growth within the casino industry will be in Indian gaming.

It is estimated that Indian gaming is worth more than $1.3 billion. If more of the five hundred Indian nations were to receive their compacts, this number will increase.

Geographically speaking, all but two states in the U.S. have some legal form of gambling.

If we are to look at the continents of Asia, Africa, Europe or South America, we see the same expansion occurring. Casino gambling is also expanding in the Caribbean, and the Pacific.

Every corner of the world will be affected, somehow, by casino gambling.