World Poker Fund Betting on In-Flight Gambling
Will in-flight gambling be the gaming industry’s next frontier? That’s what the folks at the World Poker Fund think and they’re working with the Iowa Tribe of Oklahoma to make that airline passengers will be able to gamble in the sky as soon as possible.
The company’s ambitious in-flight gambling strategy is set to launch in Q1 2017, but the first steps towards adding gambling to in-flight entertainment packages starts in just 90 days. That’s when the Iowa Tribe of Oklahoma launches their regulated online poker offering, PokerTribe.com/.gov.
PokerTribe is power by software from Universal Entertainment Group (UEG). This week, World Poker Fund acquired a 49% stake in UEG and will be using that as the platform for its in-flight gambling products.
In-flight gambling will only be available on international flights and only after the plane’s been in the air for at least two hours. Airborne gamblers will be required to deposit at least $25 in an account with a site called InSkyCasino.com, which will be operated by the Iowa of Oklahoma Tribe.
Passengers who choose the in-flight gambling option will be able to play poker and casino games on their personal, mobile devices. Those players will also receive free Wifi for the duration of the flight.
While the world of in-flight gambling is definitely uncharted territory, World Poker Fund and UEG are extremely optimistic about the project. Their initial projections, based on a potential pool of 3 billion international travelers.
If just 20% of those travelers choose to gamble, the company stands to make $143 million in gross revenue from the project.