Monday, April 16, 2007

A new investigative article released earlier this week by Casino Gambling
revealed a close link between Internet gambling and online day trading. The
article, written by Terry Goodwin, titled 'Legal Internet Gambling in the
US', was written to describe the almost identical characteristics of each of
the two hobbies. Terry described how each industry is promoted in the same
way. He described how the sign-up process is almost identical in both
industries, the depositing process is actually easier as a day trader, and
he found the risks to be much greater for the online day trader. The article
reveals a few things, here are some conclusions from his research. Starting
out as an online day trader you must find a place online to make your
trades. There are more than a few places competing for your account. Each
offers a bonus for signing up, each offers competitive rates per trade, each
entices you to sign up with them. Starting out as online gambler you must
find a place online to play. There are many places competing for your
account. Each offers bonuses for signing up, each brag about their high
payout rates for all games, each one entices you to start playing with them.
For both online day trading and online gambling you must provide proof of
your age, that is, you must click the box that says you are over eighteen.
For both online casino players and online day traders you must be able to
deposit money into your account. Day traders have the option of keeping an
unlimited amount of money in their account. Through Neteller, online
gamblers have automatic limits on how much they can deposit per week. Day
traders can buy a stock that goes out of business, even though news says the
company is doing well. Gamblers are told the payout percentages of slot
machines and are aware that they will most likely lose their money. Day
traders have a serious reputation for making very intelligent people go
bankrupt. Type in 'day trading' into Google and every site you find will
warn you of the very serious risks involved. Yet, with no training at all
you can easily sign up, deposit money and start trading. Day traders have
the ability to borrow from the place that hosts their account. The gambler
cannot do this. This means a trader can deposit money, lose it, then borrow
more from the trading company. A gambler can only deposit what they have if
they have not yet reached their limit. Day traders make very few people
rich. Gambling makes very few people rich. Day trading is highly addictive.
Gambling is also addictive. Online day trading is legal and accepted by the
United States government. Gambling at online casinos is also legal, yet not
accepted by the United States government. The United States Department of
Justice has been in a war against online gambling related companies in the
past year, while online day trading is thriving. This is a situation that
needs serious attention from the United States government. Either legalize
Internet gambling, or criminalize day trading. It should not be any more
complicated than that.