New US Online Gambling Laws May Lead To Video Game Betting

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In the aftermath of the House Finance Committee's approval of new legislation that would regulate Internet gambling in the US, many industry insiders are questioning how the new law would affect their business. One of those industry's is online video gaming.

PlayStation and Xbox have cornered the market for online gaming. Players all across the US can currently log into their network, and play other games in popular games such as Madden, World of Warcraft, FIFA soccer, and other games developed for the PlayStation and Xbox consoles.

Players are competing for bragging rights, but that may soon change. If online gambling becomes regulated in the US, there is a strong chance that some of the biggest video game company's would start offering cash tournaments and matches.

"The video game industry is one of the few in the US that can stand up to online gambling," said Gaming Analyst Steve Schwartz. "If players had the opportunity to gamble on their skills at a particular game, they may take that option over playing online casino games of chance."

The focus of the new legislation that Representative Barney Frank has proposed is online poker. Millions of people in the US play poker online, and they are not protected by the government against fraud. Frank's bill would lay the regulatory framework to ensure that online poker players were receiving a fair game, and their money was secure with licensed online gaming sites.

The makers of the PlayStation and Xbox games unveil new versions of the same games on a yearly basis. This alone would prevent sharks from becoming so good at a game that they would have an unfair advantage if gambling was involved. Even more of an emphasis on new features would be required to keep the playing field even.

Online poker tournaments can attract so many players that the prize pool sometimes exceeds a million dollars. With video games, similar tournaments could be run, and the potential to make video game playing a job would become a reality.

Of course, this is all speculation being that the online gambling law must still be passed by both the House and the Senate. In that process, lawmakers may choose to make video game online gambling illegal. At the very least, the new law has gamers all across the US tuned in to see how the Internet gambling law shakes out.

July 31, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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