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888’s Nevada License is Not Such a Big Deal

888’s Nevada License is Not Such a Big Deal

Last week the state of Nevada granted its first online poker license to 888. However, according to gambling insiders the move is more symbolic than anything else.

888’s Nevada License is Not Such a Big Deal

Despite the hype surrounding the granting of Nevada’s first online gambling license, in reality it is not a very significant move

The reason that the license is not as big news as we may have first thought is because it comes with two big strings attached. The first is that it is limited to players who are physically in the state’s borders; secondly, the license only covers poker. The reason the second condition is important is because poker is less lucrative for the house than games such as slots and roulette.

As a result the online gambling industry is more focused on developments in New Jersey where the new online gambling laws allow casino table games as well as poker. 

However, even New Jersey is unlikely to have a major impact on the industry as online gambling there is still restricted to the state’s borders.

In the meantime the online gambling industry is hoping for a breakthrough at federal level. If unified laws and regulation for the entire country are established then the market will truly open up.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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