Government Owned Online Casinos What Do You Think Of Its Potential - page 6.

molsewid

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Quote from: vennali on June 27, 2022, 02:26:17 AM

Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

In my opinion, Govt do tax them and regulate them to keep the casinos in check. I don't think a govt. specifically needs to start casinos. Instead, they could simply certify casinos while taking part of the profits that the casino is govt. recognized. Save themselves the trouble of admin and maintenance of the casinos, which is a tedious task.

I think you are right, it is not recommended at all to have a government owned casino, for me it will not give them a good image, they only knew how to apply taxes on casinos but in terms of other things I really don't know if they have a good plan for that. It will not also good for a government to have another competitors in this field.

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

In my opinion, Govt do tax them and regulate them to keep the casinos in check. I don't think a govt. specifically needs to start casinos. Instead, they could simply certify casinos while taking part of the profits that the casino is govt. recognized. Save themselves the trouble of admin and maintenance of the casinos, which is a tedious task.

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Quote from: smartaction on June 26, 2022, 08:33:38 PM

Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

cut

It will get a much better support. If it is under the control of the government of that country. Gamblers from other countries, including the people of that country, will be interested in investing there and will gain confidence. The government will also get a lot of revenue from there. It will boost the economy of that country.

I even see the potential for huge losses that will be experienced by the country if the government manages gambling. the government does not have a solid foundation or experience in managing the gambling business, when there is fraud then they will automatically be confused to solve it. until now gambling is managed by the private sector while the government only receives taxes from gambling every month and it makes a balance in this business.

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

The Covid is still here and we are still in a pandemic, I have a topic where Macau is struggling to keep their casinos open despite the spike in their country

Macau's Casino Operation Continues Despite The Latest Outbreak

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

It will get a much better support. If it is under the control of the government of that country. Gamblers from other countries, including the people of that country, will be interested in investing there and will gain confidence. The government will also get a lot of revenue from there. It will boost the economy of that country.

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Macau is China and everything and everyone in China is owned by the government, that is the nature of their command economy. They have strayed surprisingly far into capitalist ideas, freedom even but ultimately its barrel of a gun stuff imo I would consider the operations to be already operated indirectly by government.

Sri Lanka like everywhere needs the ability to provide for itself when tested, they have imported too much it sounds like. Gambling there would be related to tourism, that sector has not been reliable in recent years. The greater problems they have are more directly food production, I read they now allow all government employees to stay 1 working day in the fields to produce food instead of handle paperwork etc.

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Quote from: Google+ on June 26, 2022, 04:01:24 PM

I accidentally read one of the newspapers and saw a title on the first page where Sri Langka showed the casino boss to serve as the investment minister. So I thought about the title of this topic where the government casinos is there potential?

So do you think this is suitable for me to reveal in this topic.

So what should Sri Lanka do when the economic crisis really passes the 90% mark and do you believe where government-owned casinos will have great potential if the country is in a severe crisis. On the one hand, it is true that government owned casinos allow players to trust them and whether the appointment of a minister from his past history of being a casino boss is the right choice.

Regardless of the profession, what if that Casino boss knows fully how to handle the position as an investment minister.

I think we should disregard being the Casino boss here as to what if this guy has the skills.

However, Sri Lanka is now on the verge of being a failing country. They need to unite to be as one as even how knowledgeable those officials, it needs wide support from the whole people of that country.

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Quote from: Maslate on June 26, 2022, 01:18:57 PM

That's much better because the government itself owns that 100% entirety of the casinos all over the country and its mandate was to be controlled and report to the Office of the President. That said $600 Million or ₱30 Billion was the revenue of the 1st trimester and not the whole year so imagine how would a country benefit for that whole year, unfortunately, I think that funds was already exhausted because Covid-19 wrecked havoc in the following year.

Not that totally exhausted because lots of gambling firms under the regulation of PAGCOR were also hyped during the pandemic and one of the popular ones is the e-sabong. Because of the hyped on these games, the government was able to sustain the revenues coming from gambling.

As per the report, E-sabong gives the government Php 642 million a month. Imagine, it's a billion figures in just a year, and take note, physical casinos are not even operating and this revenue is just for e-sabong alone. What's more, if it includes other gambling?

That gives way for the government to continue providing funding for hospitals and medicine-related stuff aside from the usual spending on infrastructure for example. That's how well the gambling industry here in PH that's why taking down illegal ones are a priority.

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Quote from: Google+ on June 26, 2022, 04:01:24 PM

So do you think this is suitable for me to reveal in this topic.

Definitely, since the title does not limit the discussion to Macau only, I think it was just an example. So sharing that news here help to enrich the discussion.

Quote from: Google+ on June 26, 2022, 04:01:24 PM

I accidentally read one of the newspapers and saw a title on the first page where Sri Langka showed the casino boss to serve as the investment minister. So I thought about the title of this topic where the government casinos is there potential?

You could have share the link of the article here so that we can have reference to dig in additional information about the news.

Quote from: Google+ on June 26, 2022, 04:01:24 PM

So what should Sri Lanka do when the economic crisis really passes the 90% mark and do you believe where government-owned casinos will have great potential if the country is in a severe crisis. On the one hand, it is true that government owned casinos allow players to trust them and whether the appointment of a minister from his past history of being a casino boss is the right choice.

I believe Sri Lanka is in a dire situation or the Casino Boss had supported the current leader of Sri Lanka of its candidacy and now the Sri Lankan leader is appointing him because he is indebted to the Casino boss. Whether it is the right choice or not, only the performance of the newly appointed Investment minister will answer it.

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

The Covid is still here and we are still in a pandemic, I have a topic where Macau is struggling to keep their casinos open despite the spike in their country

Macau's Casino Operation Continues Despite The Latest Outbreak

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

That is also happening in my country here where, not really casinos but big establishments are put in the name of a big businessmen but in reality, those are really owned by the head of our country. While the rest of the stores have been ordered to close temporarily while there is pandemic, but these big stores are left open. The government will always take advantage and manipulate the market, simply because they have the power and the huge funds. Even if the intention is very selfish, i guess no one is brave enough to complain about it.

TimeTeller

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Quote from: Google+ on June 26, 2022, 04:01:24 PM

I accidentally read one of the newspapers and saw a title on the first page where Sri Langka showed the casino boss to serve as the investment minister. So I thought about the title of this topic where the government casinos is there potential?

So do you think this is suitable for me to reveal in this topic.

So what should Sri Lanka do when the economic crisis really passes the 90% mark and do you believe where government-owned casinos will have great potential if the country is in a severe crisis. On the one hand, it is true that government owned casinos allow players to trust them and whether the appointment of a minister from his past history of being a casino boss is the right choice.

Any government can try their hands on handling their own casinos.
It is indeed correct that they have the reputation already as people will trust more because it is their government.
But the government needs to have proper guidance or advise to these gamblers as they may ruin their lives because of gambling.
But for sure, they can generate good income from gambling business, that may further help their government projects.
The choice of who will handle the business depends on the capability of the person, and the government itself should know the qualities of such person.

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I accidentally read one of the newspapers and saw a title on the first page where Sri Langka showed the casino boss to serve as the investment minister. So I thought about the title of this topic where the government casinos is there potential?

So do you think this is suitable for me to reveal in this topic.

So what should Sri Lanka do when the economic crisis really passes the 90% mark and do you believe where government-owned casinos will have great potential if the country is in a severe crisis. On the one hand, it is true that government owned casinos allow players to trust them and whether the appointment of a minister from his past history of being a casino boss is the right choice.

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Quote from: qwertyup23 on June 25, 2022, 08:36:01 AM

Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

The Covid is still here and we are still in a pandemic, I have a topic where Macau is struggling to keep their casinos open despite the spike in their country

Macau's Casino Operation Continues Despite The Latest Outbreak

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

The best example of this is the The Philippine Amusement and Gaming Corporation (PAGCOR) in the Philippines.

Back in 2019, this gambling industry is responsible for bringing around $600 million worth of revenue in the country, which is also responsible for increasing at least 9% of the revenue of the whole country. This gambling company is owned by the government 100 percent and is also considered the largest contributor of revenue along with the other Bureaus in the country.

That's much better because the government itself owns that 100% entirety of the casinos all over the country and its mandate was to be controlled and report to the Office of the President. That said $600 Million or ₱30 Billion was the revenue of the 1st trimester and not the whole year so imagine how would a country benefit for that whole year, unfortunately, I think that funds was already exhausted because Covid-19 wrecked havoc in the following year.

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Ideally, it would be better this way because governments are not really like those greedy profited-oriented companies. The government could use a very low house-edge and whatever revenue generated would also be used for the people.

But it sounds a little ironic that the entity primarily mandated to look after the welfare and well-being of its own people is also the one that's putting them at risk. It's the government that is expected to be at the forefront of the battle against gambling addiction and yet it is also the one operating online casinos. That doesn't sound right to me. Also, it's not a government's business to operate casinos.

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

That's a tricky question, usually I would say that politicians are bad entrepreneurs and should let professionals run the casinos. But we are in difficult times at the moment with covid pandemic and the slow down of economic growth. We need to look at it in more detail and see what advantages state run casinos offer and what disadvantages. First of all will state run casinos pay the same taxes as all the other casinos, or are there any tax benefits? It would be unfair for the old casinos because the government casinos can return more money to the gamblers. But if the casinos are just the same as the existing casinos will they bring anything new to the table? If not than I am not sure if there will be a lot of new gamblers come. Maybe instead of running their own casinos the government could financial support for the existing casinos in form of a silent partner. Like that the casinos don't go bankrupt and professionals keep running them.

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I'm not sure the government will be successful in handling casinos well because it's a business with big and fast cash flows

the government manages people's money so if public money is used to manage casinos, the risk of losing will be large because not all citizens will agree with that

a government that only receives taxes from gambling is a good system for maintaining government-run finances

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

The Covid is still here and we are still in a pandemic, I have a topic where Macau is struggling to keep their casinos open despite the spike in their country

Macau's Casino Operation Continues Despite The Latest Outbreak

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

The best example of this is the The Philippine Amusement and Gaming Corporation (PAGCOR) in the Philippines.

Back in 2019, this gambling industry is responsible for bringing around $600 million worth of revenue in the country, which is also responsible for increasing at least 9% of the revenue of the whole country. This gambling company is owned by the government 100 percent and is also considered the largest contributor of revenue along with the other Bureaus in the country.

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Quote from: Fundamentals Of on June 24, 2022, 09:19:57 AM

I don't know with other gamblers, but I really feel that there is a world of difference between a land-based casino and an online casino. Although I don't really stick 100% to either of them, whenever I am in a land-based casino, I cannot imagine the frequent gambler suddenly shifting to an online casino. The experience is far far different. More so to those rich gamblers who have the money to travel and really live the luxury offered in Macau resort casinos.

I also agree with your position, government-owned casinos are successful it's proven because they can monitor and regulate gamblers, but it's very different when you are tackling online casinos because you are dealing with gamblers of many nationalities, and an accusation against state-run online casinos will have an impact on the integrity of a country.
The environment and the rules are very much different, online casinos are suited to companies, not in the country.

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Quote from: fortunecrypto on June 22, 2022, 06:08:45 AM

What do you think if these countries or cities that totally depends on their casino for their revenue to keep the economy floating launch their own online casinos, there are already online casinos based in Macau or a country where land casinos are government-owned but it's privately funded what I mean is government-owned.

Will they get enough support, will they get a huge slice of the market that is ruled by companies, they have the funds and they have the reputation because they are government who are more established and will be more compliant

As you said they have the reputation and the funds, so yes they will surely get a huge slice of this market. In macau, gambling places are said to still be open but they can get fewer customers during the time of pandemic so their last resort would be to join the other companies that are already making their wealth in form of online gambling.

The goodness of this is that they can cater customers from other regions not unlike to a real life casino where the customers are only limited to that place. That is the reason why an online casino is much more profitable than a real life casino. Another reason that can support this is that people can gamble in longer hours, we already know why.

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Quote from: Don Pedro Dinero on June 24, 2022, 09:39:14 AM

Even if that happens in some places, I don't think many governments will do it because it would be an unpopular measure.

In Spain, the casinos are not, but the lotteries were wholly owned by the state and about 10 years ago 30% of them were sold to obtain liquidity. So they are still owned (mostly) by the government.

So, as a potential, there is, and it would be a good way to make money for the states, and in some respects better for the player, but as I said before, it would be unpopular.

I can't imagine many people deciding to vote for a politician because he says he's going to create state runned casinos, and I can imagine people deciding not to vote for him because of it.

Most countries lotto games are being regulated by their government to make it legal because there's a lot of money fixed on it. Owned by a non-profit company or organization but primarily for the purpose of government benefit.
It's different when it comes to casinos as there are lot of games that they work on and most of it are short-time based game. It will receive a lot of questions from their neighborhood first as it could lead to addiction of their family and relatives and blames will be directly thrown to the government.

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Even if that happens in some places, I don't think many governments will do it because it would be an unpopular measure.

In Spain, the casinos are not, but the lotteries were wholly owned by the state and about 10 years ago 30% of them were sold to obtain liquidity. So they are still owned (mostly) by the government.

So, as a potential, there is, and it would be a good way to make money for the states, and in some respects better for the player, but as I said before, it would be unpopular.

I can't imagine many people deciding to vote for a politician because he says he's going to create state runned casinos, and I can imagine people deciding not to vote for him because of it.

Topic: Government Owned Online Casinos What Do You Think Of Its Potential - page 6. (Read 1191 times)