Poker players in the U.S. who have been waiting and hoping that ipoker regulation comes to their home state are naturally frustrated that progress is moving along at glacial speed.
We have not seen another state climb on board since Nevada, Delaware and New Jersey launched their online poker and gambling regimes in 2013. And all signs point to 2015 passing without a fourth state taking the plunge.
But that frustration does not extend only to players. Online gaming honchos are also up in arms over the lack of movement within the U.S. That lack of movement has kept states like Nevada and New Jersey from joining forces with other states in order to share liquidity, except for the collaboration of WSOP.com in Nevada and the tiny state of Delaware, who together formed the Multi State Poker Network.
Show me the Money
The result has been disappointing revenue totals that have been much lower than anticipated before ipoker regulation kicked in. That, in turn, causes a hesitancy among other state legislatures to act since online poker regulation has not been the cash cow that many had envisioned. Caesars Entertainment Chairman Gary Loveman said on a KNPR radio broadcast recently:
Crazy indeed. And the lack of progress causes players in non-regulated states who want to play online poker to continue patronizing unregulated sites. Despite showing that the demand for online poker among Americans exists, that willingness to deposit and play at poker rooms that do not provide any consumer protections or safety of funds stalls progress even further when players fail to support the cause of regulation and support the unregulated sites instead.
DFS a Savior?
It appears that the expected domino effect of one state after another falling in line and joining the ipoker regulation bandwagon was merely a pipe dream. Will that dream ever become a reality? It can, and Loveman sees hope via the Daily Fantasy Sports (DFS) industry.
Federal legislation that regulates sports betting, DFS and online poker. What an awesome idea! Let’s hope that Loveman is right and that regulation takes over for frustration.