Online Casino Gambling News - by Gamblers Lodge

Harrah's Folds "Lucky Me" Online Casino

Sometimes you should just stick with what you’re good at…This is probably what investors at Harrah’s Casino in Las Vegas is telling management these days. The giant casino resort, and hugely successful one at that, has shut down its online casino after incurring losses that were steadily getting beyond means of control.

To be exact, the online casino – called Lucky Me – lost $9.3 million just last year alone taking bets from its mainly British patrons. The casino would not take wagers from U.S. bettors, as a result of governmental restrictions, but instead was based in the U.K., catering to European clientele. To be sure no American gamblers were slipping by, the Lucky Me website incorporated and innovative identification system that would not take financial deposits if it was affiliated with a U.S. citizen.

The folding of an online casino operated by a land-based mega-casino is starting to become a telling sign of how big the American market is to the online casino gambling industry. MGM Mirage also closed shop on an online casino they were promoting in the European market back in 2003.

There were other factors that could have been the cause of the online casinos demise, such as the unconventional way of paying a monthly subscription for access to an unlimited number of free games. The rate at which Harrah’s was pumping out new games may just have been too fast for them to determine what was paying out what. The bottom line however, was that the land-based casino was losing money in two markets they were not accustomed to: the online casino betting industry and you guessed it…Europe.

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