The end of online gaming?…..don’t bet on it!

So it finally happened didn’t it, the rumblings about possible US government legislation and moves to counter the growing online gambling boom finally took a gigantic step forward with the introduction of the bill in the US that forbids electronic financial transactions between banks and online gambling sites. It all sneaked through at the eleventh hour attached to another bill concerning security at US ports.

The share prices of all the big online gaming companies on the FTSE took an immediate nosedive as news spread like wildfire regarding the possible effects of the bill. I have heard a few people spouting that this is the end of online poker and the beginning of the end for online gambling…..don’t be ridiculous!

Do you seriously think that the online big boys are going to call time on a $12 Billion a year industry all because of some bill. I think that if this bill had been brought in say five years ago then the damage may have been more severe. But poker is too big now for any one piece of government legislation to kill it.

Poker is spreading worldwide at a very rapid rate and is getting bigger and bigger by the day. People need to remember that this bill only takes effect in the US and even then there are ways around this problem. I see this bill as no more than an annoying hindrance to the online card rooms and the legal teams from most of the big sites are already working on this legislation even as we speak.

When are the politicians going to realise that vast numbers of people want to play poker and participate in gambling activity in general. For many people this is an outlet from a repetitive dull uninteresting life and the gaming world be it online or wherever actually employs a vast number of people to boot. Poker players and gamblers simply will not stand for this bill and I can see the share prices of these major online companies being back to their original levels within twelve to eighteen months after the initial over reaction from the alarmists has died down.

As for creating problem gamblers…well of course it does! Just like people who are introduced to drink can and do become alcoholics and people who take drugs become junkies not to mention people who drive cars becoming speed freaks and a hazard on the road. In all cases we are talking about a very small percentage of people. Should the rest us be punished simply because a handful or people lack personal discipline to do things in moderation….no!

What we are talking about here is a leisure entertainment industry and just like in most forms of entertainment…it don’t come free of charge! Poker is rapidly becoming a part of peoples lives now and it will take more than some bill to alter that!