If you want to bet at a racetrack, you may have some problems right now. The racing market is one that is struggling greatly. Racing used to be big-dollar business. All you had to do was visit a racetrack and you could feel the excitement. Horses ran and people put big wagers for the purpose of winning the huge purses.
This was something that millions of people did to win. They loved the fun of the races and the fun of building their odds with various wagers. Once back in the early 2008 he recession happened though, it changed everything. Not only was gambling threatened by people's lack of funds, but so was racing.
The difference though is that racing is not recovering as easily. Gambling is seeing better days right now. As people work their ways out of the aftermath of the recession, they are once again returning to the casinos. They are slowly moving into the market due to recovery. The racetracks aren't fairing as well though.
It seems that racing is not returning to normal and racetrack owners are concerned. They are looking for ways to turn themselves around, but it isn't an easy solution.
One of the things that racetrack owners are considering is requesting state aid. One of the biggest headlines the market had a few years ago was the bailouts that banks received.
Because banks were lending at outrageous rates, when the credit bubble hit they were the first to fall. They suddenly didn't have the collateral to make it through their lending. This is where the federal government came in and gave stimulus help to them. The money was to saturate their own coffers and help them manage.
Racetracks are looking for the same kind of help now. They are requesting some funding from the state so as not to shut down. This is on the table, but likely not going to happen.
The reality is that few voters are going to support fueling money into the racetracks when so many other elements of the market are hampered. They are going to want prioritization in other areas. Racetracks are just not perceived as important enough to offer a stimulus to.
Part two coming next.
New York officials are still pushing hard to be the first state in the northeastern part of the US to legalize online gambling law and for good reason. The online gambling market is worth multi- millions of dollars right now and projected to continue with growth in coming years.
This is why legislators see it as such a coveted market that they want to get into. Atlantic City recently took a huge decline in revenue thanks to the recession and now it is still suffering. Although it was once flourishing, the gambling center never returned to its old glory days even after the recession was deemed over by economists. Other markets have revived, but Atlantic City has not.
This is a growing concern for the area because they are coming up with stiff competition from other areas. Not only are neighboring states pining for the title of highest gambling-money generator, but so is the internet gaming market. Internet gambling is giving many land- based areas a run for their money because they are finding it difficult to compete.
What better way to wager than to go online at your own convenience and still have a chance to win just as much as you would in bigger gaming center? With land- based gaming there is travel time and the inconvenience that comes with that—cost of gas, finding parking, airline tickets, babysitters, etc. Online gambling and Online Casino Offers in general completely circumvents these issues and still lets the gamer play for millions of dollars worth of prizes.
New York officials are ready to move in on the lagging Atlantic City market. There was a time when Atlantic City brought in millions of dollars every month but that took a huge hit after the recession. Though operators have done what they can, nothing seems to be turning the market around or bringing people in again.
This is why neighboring states are seeing their own revenue potential. They are trying to quickly building the gambling laws needed to come up with revenue to change their own markets. They want to make sure that they have the chance to work with the huge-dollar market and see if they can take the title of best gambling center in that part of the country.
They are pushing hard and likely, if Atlantic City gaming companies don’t see true change, one of the neighboring states is going to move in on the market and see own growth in success.
Whether or not you are a gambler you likely have heard of The Las Vegas Strip. This is a small area of land in Nevada where gaming first became a huge draw. Though there are other places that offer gambling — all states, in fact– it is The Strip that is most commonly known as the number one center in the US for wagering.
The reason for this is because of the long history it has with Nevada and offering premiere gaming. It all began back in the 1930s when one casino was built and then another a few years later. Those two casinos proved to be a huge draw for their owners and after that, gambling took off. if you like to wager, then you should visit Nevada, but should you be playing on The Strip or not? There are a lot of ways to look at that question.
The Strip has a lot to offer- everyone knows that. The areas surrounding it though also offer a lot of good gaming. So how do you decide?
Traditionally The Strip does fine on its own and doesn't have to bend over backwards for customers. The Strip has had enough loyal patronage that it has been able to keep going without horrible amounts of bonuses.
Off-Strip locations have to be proactive. They are the smaller casinos that have to create somewhat of a draw on their own in terms of garnering customers. Players come to visit The Strip normally but aren't necessarily aware of the big deals they can get at off Strip locations too. This is where you can find some huge deals and specials.
You can find things that benefit you more in the off Strip locations. For example, you are going to find games that offer odds of 100% or more in winning! The Strip doesn't have to offer bonuses like this because they already have a steady inflow. The off Strip locations do however.
The Strip still has a great reputation for gambling, but if you want to see real discounts, don't ignore off Strip casinos. They just could be the very thing you need to have a great gambling time that varies things up for you!
To get a piece of Las Vegas USA casino without visiting Nevada you can browse instead to the online casinos.
One thing that businesses use to grow is marketing. Gambling Market Research is identifying their customers wagers and profiling them. It can be a daunting task for some entities, but it is well worth the while.
For example, let’s say a retail outlet does market research and finds out that most of its customers are teenage girls. This tells them a lot about where to go for more customers. They would never advertise in a local church paper or a high-end restaurant. Instead, they may advertise in a mall or at a movie theater. They might put print ads around those locations or special coupons in a teen magazine.
This is marketing at its best. Because they know who their customers predominantly are, they can then build their marketing plans to reach them more efficiently. This is exactly how marketing works and gambling companies are now becoming wise to that. They are using it to determine their own markets and coming up with ways to reach them accordingly. This is the main way that businesses are able to grow themselves.
Most casino companies are pushing to grow themselves due to how competitive the market is right now. Without some strategic marketing companies likely are going to lose business to other competitors.
Recently the market was scrutinized to find out exactly who is wagering. It was found out that 44% of gamblers wager on the internet alone. This is startling news because it means that over two-fifths of the market would prefer to avoid land- based locations for the first time in gambling history.
The research also showed that most of those gamblers are in the 18 to 34 year old age group. They are the ones who are most readily supporting gaming. Also, they are using mobile gaming more readily too. This is all important information for companies.
For example, let’s say a company offers online gambling but doesn’t have a mobile app. This means they are losing out on a huge portion of their gambling. This is all important and gives gaming executives and managers a better shot at reaching the exact audience they need to grow their businesses.
The legalization of online gambling inches ever closer this week as a new proposal to legalize card clubs is being driven by the Poker Voters of America.
Last week a letter from the California Tribal Business Alliance (CTBA), which represents 109 different Native American tribes in California, was sent out in an effort to block the Morongo Band of Mission Indians from hosting card rooms off of Native American Land. The letter cites that such a thing would violate the native American rights compacts which offer casino gaming exclusively in California.
“It’s a way to head off competition,” said Morongo Spokesman Patrick Dorinson said of legalizing online gambling, “This would be a game for Californians run by Californians. In a state strapped for cash, this will definitely bring in revenue.”
Last year, Congressman Lloyd Levine’s proposed online gambling bill was shot to hell when the Tribal Alliance of Sovereign Indian Nations’ stalling of the bill. However, executive director of Poker Voters of America Melanie Brenner is expressing confidence that the controversy won’t have any effect on the push to legalize online gambling in California. “The tribes are too politically astute to know they can’t say ‘we want the exclusive on this,’ as they would be fighting the card club lobbyists (many of whom also advocate the legislation on intrastate online poker). One of the big steps for PVA was to get the tribes on board with the idea of online poker. To see they have gone from being resistant to saying, ‘this is such a good idea, but we have our idea of how to do it,’ shows that one of our major obstacles has been removed.”
The Morongo’s proposal does not look as though it will be successful as it is only 5 pages long and is up against strong opposition from powerful adversaries.
Industry-leading online gambling software giant Cryptologic has signed a three year deal with Ladbrokes PLC, making them the latest major licensee for the company’s suite of cutting edge online gambling games.
Under the agreement, Cryptologic will be licensing at least three of their most popular online gambling games, Bejeweled, Cubis and Jenga to Ladbrokes online casino. Bejewled, an extremely popular puzzle game, has been downloaded over 350 million times and is already live on Ladbrokes’ site. Cubis won’t be launched until later this year. Cubis features a three-dimensional cube and smaller colored cubes, where players create winning combinations and boasts a maximum payout of 50,000. Last but not least, Jenga, which is based on the tower-building, cleanup intensive home game will be the last to join the online gambling site and will give players the chance to win up to 50,000 times their bet.
“At Ladbrokes we are always striving to deliver the best possible service for our customers. By signing this agreement with CrytoLogic, who are renowned for creating innovative betting games, Ladbrokes’ Games offering will remain at the cutting edge of the industry and our customers will have access to the best quality gaming content.” said Paul Austin, Commercial Manager at Ladbrokes.
This deal brings Cryptologic’s tally of online gambling licensees to a whopping 25. Brian Hadfield, President and CEO of CryptoLogic said: “Ladbrokes is a highly respected brand in the betting industry and this licensing agreement not only consolidates CryptoLogic’s position as the world’s top developer of innovative content but is an important step towards our goal to return to profitability and long term growth.
In a note to their investors last week, American investment firm Goldman Sachs recently predicted that the United States Government will legalize online casinos in order to reap the benefits of what they say will be a $12 billion marketplace.
“We believe it is logical to assume that the US market will eventually regulate – given the potential implications for US tax take, if nothing else.”
“Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially,” they said, “Based on an assumption of 30% penetration of offline poker players and $300 gross gaming revenue per player, we estimate that a legal poker market could be with $3 billion.”
Further, Goldman Sachs had this to say, “Were GG R to increase to 45% per player rise to $400, the size of the poker market alone could be worth $6 billion.”
As economic woes continue to plague the state and federal government, such a substantial market of untapped resources is difficult to ignore.
But don’t go putting on your party hats just yet. Though the bank sees the change coming down the road, how far remains in question. Recently hearings on legislation aimed at overturning the UIGEA have been delayed until September. In addition, it was pointed out that federal regulation of online casinos could/will take quite some time and that efforts to regulate would move along faster at a state level.
Still, Goldman Sachs has been advising governments, corporations and wealthy families on financial matters since 1869 and such a prediction should be taken as nothing but good news for online gamers.