The online gambling news of the week has reverted back to Europe where a powerful online gambling enterprise has begun to position itself in the largest potential market in the world. The company is Paddy Power, a famous bookmaking and gambling enterprise based in Ireland.  Paddy Power has immersed itself into numerous online gambling establishments in Europe as well as in other countries.  Now, it has maneuvered itself into a position when the U.S. online gambling market is available for public consumption once again.

Paddy Power has obviously beaten other firms to the punch by applying for a Nevada gambling license.  By applying for a license for manufacturing and distributing online gaming, Paddy Power has placed itself at the head of the class for future licenses because it is understood that Nevada, home of legalized gambling in the towns of Las Vegas and Reno, will be the first state to authorize online gambling once the Federal Government obliterates its UIGEA regulation.  

This is big-time online gambling news.  UIEGA has made the collection of winnings on the part of U.S. citizens illegal which has, for all intents and purposes, closed out the United States to online gambling.  By doing this, the U.S. has cut off its nose to spite its face because it is losing billions of dollars in tax revenues which the country desperately needs at this time.

This is bright and positive online gambling news for the United States, particularly for the gambling operators in Nevada who have lost many customers in their land-based casino industry due to the economic recession.  Over the past few years, Nevada legislators have been attempting to perk up the gaming industry because it is the chief industry in the State of Nevada.  The most accepted online gambling news in this regard is that it will be the land-based casinos that will initially take over the online gaming industry in the United States before international companies are permitted to enter the market.

This is why Caesar’s and Harrah’s have already created their own brand of online poker and sites that are marketed to foreign countries. By partnering with foreign companies, such as Paddy Power, the Nevada casino owners are strengthening their position by having a customer base already in place when U.S. online gambling opens.  This remains a viable online gambling news story which bears watching over the course of the next few months.

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