Internet Poker Could Make a Comeback By Going Brick-and-Mortar 93
pigrabbitbear writes "It's the most modern lament in retail: Brick-and-mortar shopping has gone the way of the dodo as everyone buys their junk online. But for the once-booming online gambling market, salvation may require a reversal of that trend. For one online gaming giant, buying a casino in Atlantic City is the first step to bring Internet poker back to the U.S. In 2006, playing online poker for real cash was deemed illegal. While that didn't stop more serious players from playing, especially once the big hosts started funneling cash offshore, the FBI and DoJ's crackdown on April 15, 2011 did. The big trio of online poker – PokerStars, Full Tilt, and Absolute Poker – were all shut down, domains seized, and executives arrested on charges related to fraud, money laundering, and illegal gambling. While PokerStars and others continued operations in foreign, legal markets, the U.S. poker craze pretty much collapsed. That doesn't mean the lucrative market has gone away. Now, the Rational Group, which owns both PokerStars and Full Tilt, may be hinting at a workaround: the company is looking to buy a struggling casino in Atlantic City. Rational faces a rather large mess of regulatory hurdles, but if it does end up acquiring the Atlantic Club Casino Hotel, it would have a huge foothold in New Jersey's young market for internet gambling."
Re:Fingers crossed (Score:1, Insightful)
and if you're anything like the dozen or so people i've met who also claim to be making ridiculous amounts of money on online poker, you aren't either. in my experience, online poker players are particularly likely to overexaggerate their winnings while not mentioning their losses. furthermore, nearly all such players try to tell me of the sites where there are many novice/donk players out there that can be reliably won from. none of these claims stand up to any sort of serious scrutiny for a number of reasons, and there is excellent reason to suggest that as with brick and mortar casinos, the only people consistently making good coin are the casinos themselves or the russian hackers who extort them.
Re:Fingers crossed (Score:2, Insightful)
I need cards if I'm going to play. I just don't trust the computer to be honest. I don't have any way of knowing if there's a scam going on where some of the other players are privy to my hand. With real cards, I have at least some awareness of what's going on. With electronic cards, I have no way of knowing if I'm just having a bad day or being cheated.
Re:be nice if... (Score:4, Insightful)
"The big trio of online poker ... were all shut down, domains seized, and executives arrested on charges related to fraud, money laundering, and illegal gambling"
It'd be nice if something like that were to happen to some banks these days.
Or, hell, maybe they can start with whoever runs the various lotteries? It is also gambling and of a much worse kind:
1. The lottery only pays back about 50%, while most casinos skim a small percentage and pay back the rest.
2. At least theoretically, you can get good at poker.