Published on August 30, 2013 by April Gardner

Churchill Downs is already the positioning of essentially the most prestigious horse race within the world, the Kentucky Derby. Now the parent company that owns the famed horse track, Churchill Downs Inc., is preparing to go into a market that may be suddenly saturated with participants.

Churchill Downs announced this week that they have got gained approval from the Kentucky Economic Development Finance Authority on $1 million in tax benefits by hiring 50 new employees. The precise job description of those new employees was not revealed, but many believe they know what Churchill Downs is preparing for.

"Online gambling is coming to the united states in a large way," said analyst Steven Ryan. "Whether the government regulates the industry, or whether regulation comes throughout the Kentucky Legislature, Internet gambling may be in Kentucky sooner in place of later, and Churchill Downs desires to be ready when that happens."

The company did announce that the brand new employees can be coping with a technology based job. The figures regarding how much these employees will make were estimated at $165,000 annually. Churchill Downs did acknowledge that they were associated with online gambling.

The move towards providing online poker began for Churchill Downs back in early 2012 when the corporate acquired Bluff Media. Bluff runs a web based poker site, in addition to one of the most largest and most successful poker magazines within the US. Bluff has already been approved for an online gaming license in Nevada, where online gambling have been accepted by lawmakers.

With New Jersey also regulating online casinos earlier this year, analysts now believe the door was opened for the U.S. to become the most important online gambling market on the planet. Dozens of businesses have submitted applications to function online casinos in Nevada. New Jersey and Nevada both hope to have fully operational online casinos by the top of the year.

Kentucky was on the forefront of a web-based gambling controversy when Governor Steve Beshear attempted to grab the domains of 141 online gambling sites. Beshear claimed the sites put Kentucky's youth in danger.

A Department of Justice ruling back in December of 2011, clarified the 1961 Wire Act, signaling that only sports betting was illegal under the law. Soon after, lawmakers from dozens of states, including Kentucky, began lobbying their colleagues to switch state laws, allowing regulation throughout the online gambling industry.

Read More... [Source: Online Casino News]