Online Casinos Keep Winning From Land Based Online Casinos

There is lots of money going around in the online casinos world and it's only natural that everyone wants to have a share of this money. But even though land based casino are putting in lots of effort to make online versions of their casinos a success, until now they can't seem to make it work.

There is however still hope for the land casinos to get a piece of the action, through the acquisitions of online sport books operators. Sport books are a kind of online casinos where players can bet on sports. This was already highly popular in land based sport books shops, but online it is an even bigger success. There is only one problem, players want to bet on sports in places they know, and not in every random sport books site or online casinos site. This is the reason that the big sport books names in land based sport books have such success with their online version too. Therefore some well-known land based casinos decided to buy sport books sites. This way they can still enjoy the success of the online casinos hype.

Players who register at sport books sites, sign up for sport betting, but in most cases they end up playing lots of the online casinos games the sites have to offer. This is the reason why sport books are so profitable, they have a great trigger 'sports' and the rest follows all by itself.

This week their were to major takeovers concerning land based and online casinos. A £1.9 million takeover took place of a land based casino operator that bought a VIP sport books operator and a £2.18 billion takeover took place of the same kind. Neil Goulden, CEO of this last company who took over a sports betting site, said that he was very surprise in the beginning of the boom of online casinos that sport books had so much more success than the sites of land based companies.

Paul Leyland, online casinos analyst at Seymour Pierce stated that all the UK land based casinos share the same problems when it comes to the lack of success in the online casinos business. Charles Wilson, analyst at Brigdewell Security commented that this shows that online casinos brands are so much stronger than land based casinos.

The reason that analysts give for the problems of the land based casinos is the fact that some names of casinos might sound familiar for players, but nobody's heard of the companies behind the casinos, and this are the names they use for their online casinos sites.

Despite the decrease of the shares of some of the biggest online casinos in the industry, online casinos and poker rooms are still raking hundreds of thousands of dollars every hour and they have an estimated revenue of $12 billion. The online casinos group which shares declined by 30 per cent is still earning profits of more than $100,000 an hour!

Online Casinos Verification Organization Appoints New Director

Michael Hirst, the chairman of The eCommerce and Online Gaming Regulation and Assurance (eCOGRA) has appointed the Swedish Karl Magnusson to their board of directors. Choosing Karl Magnusson for this job was a logical decision when looking at the background of Magnusson. Magnusson has worked for several years in the online casinos industry, gaining experience in all the different area's of the online gaming industry.

The eCOGRA is an organization who approves online casinos who are properly and transparently supervised. This means that the online casinos need to have fast pay-outs, safe storage of customers information, fair gaming, honest advertising and all the online casinos need to show responsible behavior when it comes to problem gamblers. If the online casinos comply in all these points, they receive the eCOGRA seal, which they can display on their sites. This seal is very important since it represents the safety for the players at the online casinos who bear the seal. In short, the eCOGRA Seal is sort of a guide for players when choosing out of the hundreds of online casinos on the web.

Up until now the eCOGRA play online casino | online currency trading, forex | online sportsbook seal is given to 56 top online casinos and poker rooms. At the moment members of eCOGRA account for more than 80% of the online casinos industry's revenue. In the last year eCOGRA is working on developing industry practices for the mobile gaming industry and multiplayer online casinos

Hirst stated that he is very content about the membership of Magnusson of the board of directors at eCOGRA, because of his valuable experiences in the online casino world. Hirst believes that the cooperation with Magnusson will be fruitful and he will prove to be a real asset for the eCOGRA.

Karl Magnusson is not the only hot shot from the online casinos industry who has been appointed to the board of directors of eCOGRA. Other important players, who are somehow linked to online casinos are Bill Galston and Frank Catania, together with John Anderson of one of the famous online casinos and Roger Raatgever, a director of a software development company for online gaming sites.

Magnusson is the director of a software development company in Stockholm, which provides software for some of the biggest casinos on the net and many popular Poker Rooms. He is also the director of 2 different UK companies both with links to the online casinos industry and he obtained management experience in huge organizations like the financial statistics deportment of the Swedish government and ABN Amro's Alfred Berg Asset Management. Magnusson has a Master's degree in Economics, from the Swedish University Uppsala. Karl Magnusson is 30 year old.

Since the regulations and rules concerning the online gaming industry are so vague because they are not bound to any legislations, it is important to have an organization monitoring the sites to protect the players. The eCOGRA tries to protect the players by continuously monitoring the sites and having thorough inspections of the casinos.