Will Zynga Win WIth Internet Gambling Too?
Zynga Inc., well-known for their popular social media games, is experiencing a number of obstacles in their quest to offer true gambling on the Internet. Zynga provides the most popular free poker game across the globe, resulting in intense investor confidence propelling the company stock upwards of 45 percent in the past 12 months.
Legalized gambling in the United States favors casino gambling only. This will make it difficult for Zynga or any other company to excel with online gambling without partnering with a casino. The projected revenue for Internet gambling is expected to reach a massive $7.4 billion dollars by 2017. However, only three states currently allow Internet gambling, Nevada, Delaware and New Jersey.
Delaware’s Internet gaming will be operated by the state gaming commission with help from a yet unnamed Internet based company. Nevada’s newly minted Internet gaming law allows only land-based casino’s to offer Internet gambling. New Jersey’s Internet gambling law stipulates that the online gambling must be based out of Atlantic City.
Creating Alliances Online:
New Jersey’s law was designed to protect the income lost to other states from gambling by effectively keeping gambling revenue in the state. Caesars, the paramount leader of U.S. gambling holdings is considering selling stock to help aid their Internet growth. MGM Resorts and Boyd Gaming are combining forces with Bwin.Party. Bwin.Party currently offers Internet gambling from Gilbraltar. The landscape of Internet gambling will be a combination of many current casino’s and gaming companies combining forces to launch legalized online gambling.
Zynga Dealings Across The Globe:
Zynga has collaborated with Bwin.party in the United Kingdom to offer true money betting on their game “Farmville Slots”. The venture is slated to go live within the next few months.
California based Zynga has realized a remarkable 26 percent rise in their stock since the new Internet gaming laws were approved. The U.S. government has not taken on stance on Internet gambling; requiring each state to pass their own unique rules and licensing protocol.
New License Procedures and Other State Options:
Nevada has taken the stance of refusing any gaming company from licensure, if they had previously allowed Internet gambling from American citizens, prior to the passing of the new laws.
A California proposal is being considered to allow Internet gambling to a select group of operators. The California bill will allow Indian casinos, horse tracks and card clubs the option of offering real money gambling from their locations.
In New Jersey, an Internet-based gambling company has the option to become a land-based casino with prior approval from the legislature. A land-based casino will provide the company with a means of legally offering Internet gambling in the state.