The day online poker players have been waiting for is coming closer to reality. Last week, Bally Technologies
Before you start rounding up cash to put into an online poker game you may have to wait a while. The license allows the companies to provide systems and services to casino operators, not yet to offer games online.
Bally will use the license to offer its iGaming platform to casinos and IGT plans to push its poker product to operators. According to Bloomberg, two dozen companies have applied for online gaming licenses, so the market for these products should be significant. MGM Resorts
In a move I find ironic, Las Vegas Sands
Forcing the Fed's hand
This is the first move that will force the hand of federal legislators in the near future. The Justice Department said that betting on things other than sports contests was not illegal, paving the way for the recent licenses.
But so far, Nevada is standing alone. Washington, D.C., and Iowa have struck down online gaming laws while New Jersey is yet to have a final vote. These were supposed to be leaders in the online gaming movement along with Nevada.
There's a long way to go, but for MGM, Caesars, Bally, and IGT, this single step forward is a positive. Online gaming could be a huge boon for the industry, and I think before long, the federal government will be forced to legalize it in some way, shape, or form.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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