Re: Side question on money laundering...

> If there is real anonymous untraceable digital cash for money
> laundering with, will "real" casinos see their profits decline
> as digital money sucks away that part of their business?

"Real" casinos are safe unless some state takes the appalling,
disgusting, absolutely un-American step of (gasp!)
re-legalizing gambling.  Fortunately, most states now depend on
the tide of money flowing in from convenience-store lottery sales
enough that they won't allow competition for immoral filthy lucre
(except of course from Bingo at religious institutions and firehalls).
Even New Jersey has state lotteries (though they had to agree to keep
their payouts lower than the Mafia's in order to be allowed to operate :-)

I suspect purely legal Internet gambling would either have to go off-shore,
or convince governments not to be hypocritical about their monopolies.

However, aside from the addictive nature of gambling for some people,
it may be hard for Internet casinos to compete with the rooms full
of blinkenlights and jackpot buzzers, Elvis impersonator conventions,
cheap drinks from tastefully-dressed waitresses, high-roller comps
at hotels, and the lovely Atlantic City beach-front.

They'd probably have to resort to things like charging for extra
bullets in video games or phasor charges in net-trek,
or letting you buy clues in puzzle-style games.  
It's a whole new market opportunity, if you're into that sort of thing,
but you may be able to compete for a different style of customer,
which is a good thing in a net full of mathematicians with
automated card-counting programs who *won't* play against stacked odds
just because you've tried to keep them from understanding the rules of craps.

Just my .02 zorkmids.


				Bill

On Wed, 20 Apr 1994 wcs@anchor.ho.att.com wrote:

> I suspect purely legal Internet gambling would either have to go off-shore,
> or convince governments not to be hypocritical about their monopolies.

Perhaps not yet on the Internet but there sure is a lot of 
ascii-interfaced net.gambling going on internationally. The best example 
might be the currency market. The major Swedish telecom supplier Telia 
(until some years ago a monopoly like Ma Bell) recently entered a two-
page ad in the biggest papers boasting of their bandwidth capacity ("we 
already have what the US is planning"). As an example of the usefulness
of this technical superiority they announced that Stockholm players on 
the fast-moving net.markets had some 3-second lead in certain areas that 
could mean a lot of opportunities.

//mb