Slow to expand, internet casino gambling is the future of US betting, execs say – The Post and Courier

Panelists agreed the industry needs to do a better job of educating state lawmakers about internet casino games, drawing explicit comparisons with the illegal, unregulated offshore web sites that attract customers from across the country. Legal sites are strictly regulated and offer customer protections, including responsible gambling options like self-imposed time-outs and deposit and activity limits, they said.

Cesar Fernandez, a senior director with FanDuel, said online casino games should prove increasingly attractive as federal post-pandemic aid dries up and states look for new revenue without raising taxes on their residents.

"Since 2018, FanDuel has paid $3.2 billion in taxes," he said. "That's a lot of teacher salaries, a lot of police officers and firefighters."

The industry cites several challenges to wider approval of internet casino gambling, including fears of increasing gambling addiction by "putting a slot machine in people's pocket," Iden said, adding casino companies need to do a better job of publicizing player protections the online companies offer.

Then there is the ongoing debate in the industry over whether internet gambling cannibalizes physical casinos. Many in the industry have long said the two types of gambling complement each other.

But recently, some casino executives have said they believe online gambling is hurting the revenues of brick-and-mortar casinos.

Adam Glass, an executive with Rush Street Interactive, an online gambling company, said his firm has relationships with physical casinos as well, and works hard to be "additive" to them.

He said online gambling can also be a job creator, not only designing and operating the games themselves, but also in ancillary industries like marketing and media.

The conference was scheduled to further debate whether internet gambling cannibalizes physical casinos later in the day on Wednesday.

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Slow to expand, internet casino gambling is the future of US betting, execs say - The Post and Courier