As I mentioned earlier, upon entering the conference floor at the International Gaming Expo, one is immediately inundated by sensory overload... noise, colors, sex... it's all here.

What isn't here? Any sign of the looming recession.

This is an alternate universe, where down means up, excess means restraint, and the recession means opportunity.

In fact, there are only three types of people here:

- Those who pretend the recession doesn't exist.
- Those who will only talk about the recession in hushed tones, quietly accepting that there is an actual recession but it doesn't seem to be affecting them.
- Those who accept the recession with comments such a, "It's awesome! When the economy goes down, my sales go up!"

In reality, the recession seems to be affecting different industry segments quite differently.

On the one side are the companies servicing the land-based casino industry. These are the exhibitors who talk to you with uneasily broad smiles as they tout their latest amazing inventions, not knowing for sure if they will ever be able to sell it to actual casino operators. They've seen the news. Las Vegas has been hit hard.

And it's too bad, too, because some of the inventions are absolutely amazing.

Take a look at this horse racing game. The website simply can not do it justice. It features a huge video screen about the size of three big-screen TVs side-by-side. The animated horse race is as good as anything you would actually see live.

All that is missing is the knowledge of which horse is a mudder. And the smell of the track. Now, some people might find that to be an essential part of the horse racing experience. I can't say. All I know is that I stood there, entranced, for about 15 minutes just watching the spectacle. It was fantastic.

If this was an up-market for land-based gambling, I would think this product represents the future. It still might. But they are going to have a lot harder time selling it now in this market.

On the other side is a product like the Medialive Casino. This is another great innovation and the salesman is nothing but excited to talk to me.

They have created a system that uses camera and technology to allow a live dealer to host online gaming sessions. The cameras are strategically placed in and around the tables so that an online user might as well be sitting at the table as the dealer hands out the cards. With this system, you can always be sure that you are at least getting a fair deal.

What's the difference between these two products? Both are intriguing, and both might succeed or fail, but my money is on the games that is servicing the online market.

Yes, times are a-changing, but old habits die hard. Land-based companies still don't like to acknowledge their online rivals. To the point where even some of the conference events are specifically arranged to keep the two sides separated.

When I start a discussion with a land-based company, it tends to go something like this...

F@S: "Hi! What's up? I'm from SportsDirect. What do you guys do?"
Exhibitor: "We are a software company that allows anybody to create their own bookmaking shop very simply."
F@S: "That sounds awesome! Does it let you offer your own odds, or do you get them from a central provider?"
Exhibitor: "Huh? Where are you from again?"
F@S: "I'm from SportsDirect. We are from Canada."
Exhibitor: "Oh. I don't know if we offer it to Canadian companies. We try to avoid the online market and North America."
F@S: "OK. Thanks for your time."

Not surprisingly, there are very few exhibitors targeting online. Most of the online presence is in the form of conference attendees who are taking the opportunity to do business amongst themselves.

These are the people who - due to the legal environment - tend to keep a lower profile. On of the most telling inside jokes comes courtesy of a prominent online sportsbook whose attendees are all carrying simple white business cards with a plain font bearing nothing more than a [fake] name and an untraceable email address.

Ahhh, such is life when you are ever-threatened with the prospect of being apprehended by American authorities for operating a service to willing Americans that is legal everywhere but America.

However, talking to the online crowd reveals a vastly different outlook. These companies are thriving. Business has never been better. They are not afraid of the recession. They see a new American president and they hope he will change the laws.

They see the future, and they are it.

People have not stopped gambling, they just are not gambling in traditional casinos. They are gambling online.

Next year's show should be interesting. Especially if the business trends stay consistent. The organizers might have to start recruiting online companies in order to keep the show fresh.