Government Owned Online Casinos What Do You Think Of Its Potential - page 7.

Fundamentals Of

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Quote from: lionheart78 on June 23, 2022, 09:30:29 AM

Quote from: Fundamentals Of on June 23, 2022, 09:07:10 AM

If these land-based casinos will shift to online casinos, they are not anymore the best ones. The online competition is far different from the competition among casino destinations in the world. The experience that they will offer online might just be the same with other online casinos. In fact, they are going to be the new players in this field. Even if they already have a vast casino experience, it is going to be another world for them if they go online. And I don't think their patrons would follow them there because many Macau casino players are probably there for the actual casino experience and physical ambiance.

They might be a new player in the field of online gaming services but they have experience in the gambling industry nevertheless. Aside from that, if a land-based casino transitioned to or have a online casino counterpart then they already have patrons who are willing to spend their money on that site to play.

Quote from: Fundamentals Of on June 23, 2022, 09:07:10 AM

And I don't think their patrons would follow them there because many Macau casino players are probably there for the actual casino experience and physical ambiance.

I disagree. These patrons had already proven the reputation of the casino, they might prefer the physical ambiance but there will be times when these players can't go to the land-based casino, so having an online site where they can access the casino is pretty convenient for them. Besides you are assuming that the marketing team of that casino is incompetent, well I beg to differ. They had the fund to hire professional marketers, so I don't think that promoting a casino to gather players will be an issue.

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.

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Quote from: madnessteat on June 23, 2022, 10:25:55 AM

Quote from: Boristhecat on June 23, 2022, 07:32:46 AM

Quote from: madnessteat on June 23, 2022, 05:08:38 AM

As you know, governments always support businesses and organizations that belong to them. The state also has quite a lot of leverage over competitors who will eventually simply sell their businesses because they cannot compete with state institutions. It is difficult to do business when you constantly have some inspections, power outages and other problems that can be arranged by such a strong competitor.

And unlike a private entrepreneur, the state does not care about whether the business is unprofitable or not. Under such conditions, it may turn out that there will be several state players on the market on the verge of profitability and several private ones who will eventually be forced to leave the market, since zero (or negative) profitability does not suit anyone.

Yes. In addition, the government likes to save money on security specialists. So the likelihood of your personal data ending up on the black market is greatly increased. I can also add that most likely the personal data of gamblers will be used by the state, which in my opinion is unacceptable. So I would never play in a state-owned casino and do not advise others to do so.

Wont really be that much different even if you do play on a non-owned state casino because everything which is regulated and asking out those common verification or kyc then those information would really be

always on the risk on leaking out or being sold into other places without you knowing thats why never ever make yourself that feel too safe for those information once you do sent out whether you are dealing

with a government related platform or even into those centralized platforms that you do know.You cant just give out 100% trust and confidence in them.

Fortify

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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's actually a rather good idea, however it is fraught with difficulties. On the one hand it's bad because the government would become complicit in the misery that the extreme end of the gambling spectrum can bring people and if they regulate properly then there is no need for them to interfere in this side of the market. On the other hand it could offer more rounded protection to player (e.g. a proper self exclusion scheme) and potentially be a great money earner for the public pocket - if people are going to gamble then they might aswell top up the government coffers during the same time. However it would be extremely hard to police, considering how open the internet can be and it is likely to get mired in wasteful spending in the long run.

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Quote from: iv4n on June 22, 2022, 04:58:35 PM

Quote from: KTChampions on June 22, 2022, 04:46:51 PM

I'm against it. The state should not be engaged in business. All public services are always worse than private ones and are always breeding grounds for corruption and theft of people's money. Do not forget that in theory what sounds like "the state will deal with it" in practice always turns into "an official deals with it."

It's like that in my country as well, public services are worse than private ones. But it's because I live in a fuckedup country with totally incompetent people in the leading places, and it's been like that for decades... so now we are where we are!

I live in the same country, and maybe worse (Russia). Therefore, when I hear the word "state" I know that it will be crap, not only because I studied economics, but simply because I see these examples before my eyes all my life. Any action that increases the representation of the state in business or in anything else only worsens the situation.

madnessteat

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Quote from: Boristhecat on June 23, 2022, 07:32:46 AM

Quote from: madnessteat on June 23, 2022, 05:08:38 AM

As you know, governments always support businesses and organizations that belong to them. The state also has quite a lot of leverage over competitors who will eventually simply sell their businesses because they cannot compete with state institutions. It is difficult to do business when you constantly have some inspections, power outages and other problems that can be arranged by such a strong competitor.

And unlike a private entrepreneur, the state does not care about whether the business is unprofitable or not. Under such conditions, it may turn out that there will be several state players on the market on the verge of profitability and several private ones who will eventually be forced to leave the market, since zero (or negative) profitability does not suit anyone.

Yes. In addition, the government likes to save money on security specialists. So the likelihood of your personal data ending up on the black market is greatly increased. I can also add that most likely the personal data of gamblers will be used by the state, which in my opinion is unacceptable. So I would never play in a state-owned casino and do not advise others to do so.

Markinzo

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Quote from: Oshosondy on June 22, 2022, 07:10:35 AM

There would be another better reason than the revenue the government are receiving from the casinos that they were not closed down, even if it is the tax that the government rely on and did not close down casino for some period of time, it is not just one casino that were left opened, there are many casinos in Macau

Why would government own a casino, all casinos that I have known are all owned by a single person or through partnership, no government would think of having a casino when the private ones and non government owned ones are a good source of income for the governments.

I don't seem to see any thing wrong in government owning a business of it's own even if it's a casino. The government must have it's personal reasons as to why they decided to own and operate a casino of theirs even when there exist private owned casinos that do pay taxes still to them.

Maybe the taxes they receive from these private casinos ain't enough for them and they decided to get directly involved into the business.
It's just my own thoughts though!

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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

It's fine as long as the revenue really helps their country to keep flowing and they use it to help their people that suffer in pandemic, the only problem is there are some countries that doesn't care for their citizen. The one who benefits from their regulated casinos are the corrupt officials running the government.

There is a lottery here in our country that is owned by the government. Some of its revenue helps the people that needs financial assistance for their medical concerns.

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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

Problems that could arise:

High level competition
Delay in payments to private investors could be cause of litigations
Possibly dealing with gambling addiction
Operational costs

^ Compare all of that effort to just collecting taxes monthly or yearly.

Besides, gamblers probably do not care if they are playing at a Government owned casino or at a privately owned but regulated casinos.

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In Italy (Casino of Campione) this is not a concept so far from reality.
Some casinos are owned by the municipalities! It is a way to guarantee profits to the city and reduce taxes.
Of course for an entire Nation I believe it's something really different... but with the right "education and information" it can be a functional development mechanism.
I have some doubts:
is this the future?
It is correct continue to finance "live" casino and not "online" casino?
Would they be "promoted" at a public level?
Who would pay if they are no longer profitable business models?
What health / economic and social cost would such an action have?

lionheart78

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Quote from: Fundamentals Of on June 23, 2022, 09:07:10 AM

If these land-based casinos will shift to online casinos, they are not anymore the best ones. The online competition is far different from the competition among casino destinations in the world. The experience that they will offer online might just be the same with other online casinos. In fact, they are going to be the new players in this field. Even if they already have a vast casino experience, it is going to be another world for them if they go online. And I don't think their patrons would follow them there because many Macau casino players are probably there for the actual casino experience and physical ambiance.

They might be a new player in the field of online gaming services but they have experience in the gambling industry nevertheless. Aside from that, if a land-based casino transitioned to or have a online casino counterpart then they already have patrons who are willing to spend their money on that site to play.

Quote from: Fundamentals Of on June 23, 2022, 09:07:10 AM

And I don't think their patrons would follow them there because many Macau casino players are probably there for the actual casino experience and physical ambiance.

I disagree. These patrons had already proven the reputation of the casino, they might prefer the physical ambiance but there will be times when these players can't go to the land-based casino, so having an online site where they can access the casino is pretty convenient for them. Besides you are assuming that the marketing team of that casino is incompetent, well I beg to differ. They had the fund to hire professional marketers, so I don't think that promoting a casino to gather players will be an issue.

Fundamentals Of

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If these land-based casinos will shift to online casinos, they are not anymore the best ones. The online competition is far different from the competition among casino destinations in the world. The experience that they will offer online might just be the same with other online casinos. In fact, they are going to be the new players in this field. Even if they already have a vast casino experience, it is going to be another world for them if they go online. And I don't think their patrons would follow them there because many Macau casino players are probably there for the actual casino experience and physical ambiance.

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Quote from: Pierre 2 on June 23, 2022, 05:43:01 AM

I think governments encouraging online casinos is definitely good thing. As we all know (and even hate) they can tax the shit out of it and its very easy money - no gambler ever would care a lot. But I do not think it can be efficient. Private businesses always will take care of their property far better, and workers would be more efficient. I think minor government regulation is enough, governments should not own casinos.

Good in terms on business side because they can get revenue out of it and this is somehow important since there are crisis happening and this is temporarily good option for them to get money from running healthy businesses.

But goverment need to take action towards addiction because if they didn't do anything about this most provably we can see more life will be destroyed because of this risky form of entertainment.

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If the government has not been able to get income from other businesses and can only get it from the gambling business, I think they can still allow land-based casinos and online casinos to continue operating. This situation is an emergency that cannot be predicted what will happen in the future, so the government is forced to do it. I think it will be okay and run well, and the casino will be safe because the government directly controls it. But it's just an estimate and we don't know whether it will run smoothly or not, but the government should first communicate with all parties.

Boristhecat

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Quote from: madnessteat on June 23, 2022, 05:08:38 AM

As you know, governments always support businesses and organizations that belong to them. The state also has quite a lot of leverage over competitors who will eventually simply sell their businesses because they cannot compete with state institutions. It is difficult to do business when you constantly have some inspections, power outages and other problems that can be arranged by such a strong competitor.

And unlike a private entrepreneur, the state does not care about whether the business is unprofitable or not. Under such conditions, it may turn out that there will be several state players on the market on the verge of profitability and several private ones who will eventually be forced to leave the market, since zero (or negative) profitability does not suit anyone.

Pierre 2

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I think governments encouraging online casinos is definitely good thing. As we all know (and even hate) they can tax the shit out of it and its very easy money - no gambler ever would care a lot. But I do not think it can be efficient. Private businesses always will take care of their property far better, and workers would be more efficient. I think minor government regulation is enough, governments should not own casinos.

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Quote from: virasisog on June 23, 2022, 03:47:42 AM

Casinos only share a part of the country's revenue from its taxes but it doesn't support the whole country. However, the money from huge gambling companies is too high and would impact the economy positively. Even physical casinos could save the economy, especially during times of crisis. Casinos are one of the biggest taxpayers.

Yep, same applied to some countries that taxed crypto gains, moreover their tax around 20-40% which is insane and would make the crypto enthusiast feel cheated. But you can't do anything since it's regulated by the government, more importantly you're already give your personal information to them, they will know the source from and who own it. If you do something suspicious like tax evasion, you might face a legal problem in the future.

madnessteat

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As you know, governments always support businesses and organizations that belong to them. The state also has quite a lot of leverage over competitors who will eventually simply sell their businesses because they cannot compete with state institutions. It is difficult to do business when you constantly have some inspections, power outages and other problems that can be arranged by such a strong competitor.

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Quote from: adzino on June 23, 2022, 12:11:50 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

I doubt there are any country whose economy completely depends on the casinos/gambling. In fact, I think casino doesn't even affect much the economy of any country as a whole. Yeah, there may be "states" or "cities" that depends on casinos, but never a country as a whole.

I don't think it would matter to anyone if it is a government owned or a privately owned casino. People will play where they feel comfortable and has more provision and facilities.

Casinos only share a part of the country's revenue from its taxes but it doesn't support the whole country. However, the money from huge gambling companies is too high and would impact the economy positively. Even physical casinos could save the economy, especially during times of crisis. Casinos are one of the biggest taxpayers.

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I don't think casinos going online could help the current state of casinos in Macau, there'd already casinos that own that space or are dominant compared to other competitors. Not that it wouldn't bring positive though, just that the effects would be rather minimal.

As for government owned casino, well it isn't something impossible but I don't think it'd grow that much or potential. We already have a lot of casinos out there imo.

bitzizzix

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If gambling belongs to the government, it doesn't mean that the government fully manages and the government only funds or allows and who works and manages the casinos not the government.
I think many governments own casinos or are involved because businesses and governments will be busy with their state affairs and have casinos only for state revenue because of taxes and tourism infrastructure created for out-of-state and international visitors.

Topic: Government Owned Online Casinos What Do You Think Of Its Potential - page 7. (Read 1193 times)