By Mike Bush
(KSDK) - In the middle of the day at a St. Louis area University, a college student is in the middle of a hard fought poker game. To be more accurate, eight hard fought poker games... at one time.
"I think if you want to be successful, you have to take it seriously because it is serious. It is real money," said the student.
The 20-year-old, who we'll call "Robert," has good grades and a double major. But when it comes to poker, he's really done his homework.
"On average, I probably end up making $50 to $100 an hour," said "Robert".
On average, he plays about two to three hours a day. That's all well and good except for one thing.
"If you are betting on a game of chance using wires, which the internet is, it's illegal. So if you're betting on sports, betting on poker any of those things, it's a crime to place those wagers," explained U.S. Attorney Catherine Hanaway.
Yet millions of Americans place those wagers everyday.
Some estimates say that Internet gaming companies will make a profit of $10 to 12 billion dollars this year. All those companies have to be based in other countries but most of their customers are from the U.S.
The federal government is cracking down on entities that promote illegal gambling. The St. Louis based Sporting News, a national magazine, recently agreed to a $7.2 million dollar settlement to resolve claims that it accepted ads from illegal Internet sites. But just turn on your television and you'll see ads for PartyPoker.net.
"They've been clever about it. What you see advertised is PartyPoker.net. They just teach you how to play. But they also send you to PartyPoker.com which is their betting site,"
said Hanaway.
The St. Louis casino market is the tenth largest in the country. Experts in the industry said the industry made $850 million dollars in profit in 2004 and that number is expected to go higher when the latest statistics come out. But how much more could they make if they could have a piece of the Internet pie?
"I don't think it's fair," said Chris Strobbe, vice president and general manager of the President Casino in St. Louis.
Unlike a virtual casino, he has to employ dealers, cocktail waitresses and security guards. But while he thinks the laws should change to legalize the online casino industry, he also believes it's helping his business.
"We just finished our new poker room ourselves and I have to believe online gaming helped to bring in new customers and introduced them to what poker is like," said Strobbe.
"Robert" has never been in a traditional casino because you have to be 21. You only have to be 18 to gamble on the Internet and the potential for underage gamblers with a credit card is another reason why some believe the industry should be regulated. In the meantime, law enforcement officials are not out arresting dorm room poker players.
"Obviously we have to prioritize who we're going to go after," said Hanaway. "And our mission as the Federal Government is to prosecute the worst first. The biggest criminals first and there are obviously a lot of companies still taking bets, still advertising for gambling and these are going to be the targets of our efforts."
In the hour we spent with "Robert" he made $700, money he says he's using to help pay tuition. But after he gets his degree he has no plans on becoming a professional poker player.
"I think ultimately I'd end up hating myself for not doing something more productive," he said. "But if I were to play eight hours a day, five days a week, I have no doubt I could make a living doing it."
KSDK
(KSDK) - In the middle of the day at a St. Louis area University, a college student is in the middle of a hard fought poker game. To be more accurate, eight hard fought poker games... at one time.
"I think if you want to be successful, you have to take it seriously because it is serious. It is real money," said the student.
The 20-year-old, who we'll call "Robert," has good grades and a double major. But when it comes to poker, he's really done his homework.
"On average, I probably end up making $50 to $100 an hour," said "Robert".
On average, he plays about two to three hours a day. That's all well and good except for one thing.
"If you are betting on a game of chance using wires, which the internet is, it's illegal. So if you're betting on sports, betting on poker any of those things, it's a crime to place those wagers," explained U.S. Attorney Catherine Hanaway.
Yet millions of Americans place those wagers everyday.
Some estimates say that Internet gaming companies will make a profit of $10 to 12 billion dollars this year. All those companies have to be based in other countries but most of their customers are from the U.S.
The federal government is cracking down on entities that promote illegal gambling. The St. Louis based Sporting News, a national magazine, recently agreed to a $7.2 million dollar settlement to resolve claims that it accepted ads from illegal Internet sites. But just turn on your television and you'll see ads for PartyPoker.net.
"They've been clever about it. What you see advertised is PartyPoker.net. They just teach you how to play. But they also send you to PartyPoker.com which is their betting site,"
said Hanaway.
The St. Louis casino market is the tenth largest in the country. Experts in the industry said the industry made $850 million dollars in profit in 2004 and that number is expected to go higher when the latest statistics come out. But how much more could they make if they could have a piece of the Internet pie?
"I don't think it's fair," said Chris Strobbe, vice president and general manager of the President Casino in St. Louis.
Unlike a virtual casino, he has to employ dealers, cocktail waitresses and security guards. But while he thinks the laws should change to legalize the online casino industry, he also believes it's helping his business.
"We just finished our new poker room ourselves and I have to believe online gaming helped to bring in new customers and introduced them to what poker is like," said Strobbe.
"Robert" has never been in a traditional casino because you have to be 21. You only have to be 18 to gamble on the Internet and the potential for underage gamblers with a credit card is another reason why some believe the industry should be regulated. In the meantime, law enforcement officials are not out arresting dorm room poker players.
"Obviously we have to prioritize who we're going to go after," said Hanaway. "And our mission as the Federal Government is to prosecute the worst first. The biggest criminals first and there are obviously a lot of companies still taking bets, still advertising for gambling and these are going to be the targets of our efforts."
In the hour we spent with "Robert" he made $700, money he says he's using to help pay tuition. But after he gets his degree he has no plans on becoming a professional poker player.
"I think ultimately I'd end up hating myself for not doing something more productive," he said. "But if I were to play eight hours a day, five days a week, I have no doubt I could make a living doing it."
KSDK