Online Casino Technology Threat to Land Casinos
The online casino technology industry is booming in Canada, and the land casinos which have held the dominating grip on the gambling industry in Canada until now, are worried of the threat from the online casino industry. Online casino technology is a real threat to the Canadian land casino industry, according to a recent report by industry analysts. The land casinos are claiming that online casino technology is sucking away half a million dollars in potential revenue from their gambling venues, because the industry is not regulated and no tax is paid on the money made. Land casinos are legal in Canada, as opposed to online casinos, and the industry is one of the biggest in the country.
The Canadian Gambling Association argues that almost $500-million is sucked from the economy every year by online casino technology and not enough is being done to combat this problem. The Association has vowed to combat this problem and is trying to do everything in its power to lure people back to the world of land casinos. There are those that counter-argue the land casinos and explain that once bettors are exposed to the thrills of gambling through online casino sites, they may be more inclined to gamble at a land casino too.
The Gambling Association feels truly threatened by online casino technology and hopes the government will help it fight the phenomenal drift away from land casinos. Land casinos provide a serious tourist attraction to Canada as well as thousands of jobs – all which could be in jeopardy if online casino technology takes the lead.