Inside Gaming Column: Oddsmakers Think Fuel Price Rise Isn't over

22 Aug 2005

Who do you trust? The betting public has proved to be a true barometer of actual outcomes since online gaming sites started taking bets a decade ago. That's bad news for consumers because online gamblers are betting the average price of regular gasoline will break $3 a gallon and keep on rising, according to PinnacleSports.com, which started taking bets on gasoline price trends this month. Ninety percent of all bets are on prices of $3 a gallon or higher. And shifting odds show bettors expect gasoline prices, already at record levels, to keep on climbing.

Believe it or not, another election is coming up fast. One sure sign is campaign contributions, and the gaming industry looks more active than ever. Through June 30, it ranked 27th among all the industries in the country, up from 36th in 2004. So far, gaming companies have contributed just less than $1.5 million, 60 percent to Republicans, but if they keep up the pace of past years, they'll easily pass their record of $15 million before the votes are counted. And that's just federal elections.

The question, it seems, is whether American Indians are cannibalizing each other -- not Las Vegas. Marty Firerider, a leader of California's American Indian Movement, is charging casinos pit tribes against each other and devalue their social values. Spurred by greed, he also claims they are disenrolling members to horde profits among smaller and smaller inner circles. California Nations Indian Gaming Association chairman Anthony Miranda disagrees, arguing the dissension started several years before the 1988 Indian Gaming Regulatory Act. Seems like splitting hairs.

What's in a name? Apparently a lot, if you heed what Sheldon Adelson's doing. He's applied to trademark "Asia's Las Vegas" for marketing the Sands Macau and the hotels along the Cotai Strip. You have to wonder where anyone gets the right to trademark the name of geographic areas they do not own. So far, dozens of cranes dot the Cotai horizon, but there's little to show for all the motion other than a glitzy model for the Venetian Macau resort that is to anchor the strip's other 20 or so resorts.

Online gaming sites are like printing presses for money and investors want it, despite Internet gambling being illegal in the United States, Newsweek said last week. Las Vegas attorney Tony Cabot, a partner in Lewis and Rocca and a source for the Newsweek article, says site operators are comfortable the U.S. government is not going to prosecute anybody; it's too busy with other issues. Newsweek also reported the only players left out are big American casino companies. "They're frustrated by missing out on the fat stakes," Newsweek said.

Gaming Wire Editor Rod Smith can be reached by telephone at 477-3893, e-mail at rsmith@reviewjournal.com or by fax at 387-5243.

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	Inside Gaming Column: Oddsmakers Think Fuel Price Rise Isn't over 22 Aug 2005 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> Who do you trust? The betting public has proved to be a true barometer of actual outcomes since online gaming sites started taking bets a decade ago. That's bad news for consumers because online gamblers are betting the average price of regular gasoline will break $3 a gallon and keep on rising, according to PinnacleSports.com, which started taking bets on gasoline price trends this month. Ninety percent of all bets are on prices of $3 a gallon or higher. And shifting odds show bettors expect gasoline prices, already at record levels, to keep on climbing. Believe it or not, another election is coming up fast. One sure sign is campaign contributions, and the gaming industry looks more active than ever. Through June 30, it ranked 27th among all the industries in the country, up from 36th in 2004. So far, gaming companies have contributed just less than $1.5 million, 60 percent to Republicans, but if they keep up the pace of past years, they'll easily pass their record of $15 million before the votes are counted. And that's just federal elections. The question, it seems, is whether American Indians are cannibalizing each other -- not Las Vegas. Marty Firerider, a leader of California's American Indian Movement, is charging casinos pit tribes against each other and devalue their social values. Spurred by greed, he also claims they are disenrolling members to horde profits among smaller and smaller inner circles. California Nations Indian Gaming Association chairman Anthony Miranda disagrees, arguing the dissension started several years before the 1988 Indian Gaming Regulatory Act. Seems like splitting hairs. What's in a name? Apparently a lot, if you heed what Sheldon Adelson's doing. He's applied to trademark "Asia's Las Vegas" for marketing the Sands Macau and the hotels along the Cotai Strip. You have to wonder where anyone gets the right to trademark the name of geographic areas they do not own. So far, dozens of cranes dot the Cotai horizon, but there's little to show for all the motion other than a glitzy model for the Venetian Macau resort that is to anchor the strip's other 20 or so resorts. Online gaming sites are like printing presses for money and investors want it, despite Internet gambling being illegal in the United States, Newsweek said last week. Las Vegas attorney Tony Cabot, a partner in Lewis and Rocca and a source for the Newsweek article, says site operators are comfortable the U.S. government is not going to prosecute anybody; it's too busy with other issues. Newsweek also reported the only players left out are big American casino companies. "They're frustrated by missing out on the fat stakes," Newsweek said. Gaming Wire Editor Rod Smith can be reached by telephone at 477-3893, e-mail at rsmith@reviewjournal.com or by fax at 387-5243. Copyright GamingWire. All rights reserved.