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Dispelling a Common Myth
Dispelling a Common Myth
Dispelling A Common Myth
Cole Turner, CEO of BoDog Sportsbook & Casino has a few things to say on Organized Crime and Its Influence on Internet Gambling—or Lack Thereof
The gambling industry inherently has had an aura of danger surrounding it. From the early days of Las Vegas in the Wild West to the days when Bugsy Segal and his crew came to town to give Vegas the nickname of Sin City…the image has been present: the go for broke, living in the fast lane, cash-based lifestyle that has long been associated with organized crime, or to be more specific: The Mafia.
It is only a natural progression that this reputation would carry over to Internet gaming. After all, almost every casino and sportsbook on the Net has some claim to being similar to Las Vegas. Why? Because the city attracts millions of people every year and not just for the neon lights and craps tables. The general public always has an urge to experience a little bit of “life on the edge”…and Las Vegas gives them what they need.
However, Cole Turner has some very good thoughts on why the offshore gaming industry has developed a more shady reputation than its land-based counterparts. He states, “From the supply side of the equation, the U.S. state’s governments—we use this as a point of reference since the majority of organized crime association originates in the United States—have a vested financial interest in legal gaming in 48 out of 50 states.” He goes on to say that these governments do not get a piece of offshore wagering and will naturally seek to squelch that they cannot control. They have had a select few arrested, basically to make an example out of them, with limited success at best. The biggest purpose served has been to further the strength of International companies.
Continuing with the economics of the situation, Cole next tackled the demand side of the campaign to rid the nation of this “immoral” activity. “U.S. authorities have an interest in discrediting the industry and have attempted to do this by stating on television or in print media that the majority of these offshore operations are “fly by night” companies run by scam artists usually associated with organized crime. They also do their best to put sports betting and money laundering in the same category.
This simply is not true for one main reason: the margins in sports betting, and even more importantly, OFFSHORE sports betting are not lucrative enough to motivate organized crime syndicates to take an active role. The American fascination with movies such as “Casino” should actually exemplify this theory perfectly: It is only regulated, corporate casino/sports gambling that creates margins wide enough to attract the riff raff looking for the easy money, Turner argues. He goes on to state, “Let’s face it, if these guys were so good at running complex organizations in low margin industries, the would give up boosting containers out of ports.”
The reality of the online gaming industry isn’t rooted in organized crime or thievery. It revolves around old school bookmakers who are slowly losing ground and market share to newer, younger, technologically savvy sports enthusiasts with a solid marketing background. Cole states, “Though the bookmaking side of the business will always be important, it is not the way you differentiate what you offer. One line is, on average over a season, pretty much as good as the next. You can only differentiate on Customer Service and your ability to get this message out to your potential player base (combination of technology and marketing).”
The profile for the successful Internet Gaming Operations Manager is the same as that for CEOs and senior managers of all top companies in other industries today: Under 45 years of age, with solid technical skills, a feel for the customers’ needs and a flair for promotion. Turner says, “In other words, main stream businessmen who work hard to bring value to their customers in a competitive environment. The days of a gruff, muffled voice answering the phone saying ‘whadya want?’ are gone forever!”
The image of Tony Soprano and his cronies sitting in the back room of Ba Da Bing counting cash and handing out lines may be exciting, but is far from reality. The majority of the people in the offshore industry are good people who work long hours (up to 14 hours a day, 7 days a week), for modest pay and just plain love what they do. Individuals in organized crime don’t want to put in that much effort for so low a return.
In closing, Cole Turner has been involved in the Internet gaming industry since 1994 and has yet to see ONE incidence of organized crime infiltrating any company with which he has been involved. So for your dose of Mafia excitement, head to your local video store or turn on HBO……don’t look to the offshore world to provide you with the same thrills and spills!
For more info on BoDog Sportsbook & Casino visit them by clicking here or call 1-888-263-0000. You can also contact Mr. Turner directly at Cole@BoDog.com.
Dispelling A Common Myth
Cole Turner, CEO of BoDog Sportsbook & Casino has a few things to say on Organized Crime and Its Influence on Internet Gambling—or Lack Thereof
The gambling industry inherently has had an aura of danger surrounding it. From the early days of Las Vegas in the Wild West to the days when Bugsy Segal and his crew came to town to give Vegas the nickname of Sin City…the image has been present: the go for broke, living in the fast lane, cash-based lifestyle that has long been associated with organized crime, or to be more specific: The Mafia.
It is only a natural progression that this reputation would carry over to Internet gaming. After all, almost every casino and sportsbook on the Net has some claim to being similar to Las Vegas. Why? Because the city attracts millions of people every year and not just for the neon lights and craps tables. The general public always has an urge to experience a little bit of “life on the edge”…and Las Vegas gives them what they need.
However, Cole Turner has some very good thoughts on why the offshore gaming industry has developed a more shady reputation than its land-based counterparts. He states, “From the supply side of the equation, the U.S. state’s governments—we use this as a point of reference since the majority of organized crime association originates in the United States—have a vested financial interest in legal gaming in 48 out of 50 states.” He goes on to say that these governments do not get a piece of offshore wagering and will naturally seek to squelch that they cannot control. They have had a select few arrested, basically to make an example out of them, with limited success at best. The biggest purpose served has been to further the strength of International companies.
Continuing with the economics of the situation, Cole next tackled the demand side of the campaign to rid the nation of this “immoral” activity. “U.S. authorities have an interest in discrediting the industry and have attempted to do this by stating on television or in print media that the majority of these offshore operations are “fly by night” companies run by scam artists usually associated with organized crime. They also do their best to put sports betting and money laundering in the same category.
This simply is not true for one main reason: the margins in sports betting, and even more importantly, OFFSHORE sports betting are not lucrative enough to motivate organized crime syndicates to take an active role. The American fascination with movies such as “Casino” should actually exemplify this theory perfectly: It is only regulated, corporate casino/sports gambling that creates margins wide enough to attract the riff raff looking for the easy money, Turner argues. He goes on to state, “Let’s face it, if these guys were so good at running complex organizations in low margin industries, the would give up boosting containers out of ports.”
The reality of the online gaming industry isn’t rooted in organized crime or thievery. It revolves around old school bookmakers who are slowly losing ground and market share to newer, younger, technologically savvy sports enthusiasts with a solid marketing background. Cole states, “Though the bookmaking side of the business will always be important, it is not the way you differentiate what you offer. One line is, on average over a season, pretty much as good as the next. You can only differentiate on Customer Service and your ability to get this message out to your potential player base (combination of technology and marketing).”
The profile for the successful Internet Gaming Operations Manager is the same as that for CEOs and senior managers of all top companies in other industries today: Under 45 years of age, with solid technical skills, a feel for the customers’ needs and a flair for promotion. Turner says, “In other words, main stream businessmen who work hard to bring value to their customers in a competitive environment. The days of a gruff, muffled voice answering the phone saying ‘whadya want?’ are gone forever!”
The image of Tony Soprano and his cronies sitting in the back room of Ba Da Bing counting cash and handing out lines may be exciting, but is far from reality. The majority of the people in the offshore industry are good people who work long hours (up to 14 hours a day, 7 days a week), for modest pay and just plain love what they do. Individuals in organized crime don’t want to put in that much effort for so low a return.
In closing, Cole Turner has been involved in the Internet gaming industry since 1994 and has yet to see ONE incidence of organized crime infiltrating any company with which he has been involved. So for your dose of Mafia excitement, head to your local video store or turn on HBO……don’t look to the offshore world to provide you with the same thrills and spills!
For more info on BoDog Sportsbook & Casino visit them by clicking here or call 1-888-263-0000. You can also contact Mr. Turner directly at Cole@BoDog.com.
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