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Online Gambling Guide by Jerry Whittaker…
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Gambling Analysis

by Jerry "Jet" Whittaker

February 28, 2006

 

The Internet Gambling industry is being valued at $49 billion dollars. Gambling in any form has been very controversial since before history could document it. Certain sections of the Bible forbid gambling in any form. Gambling is legal in some parts of the United States such as Las Vegas, Nevada, Atlantic City on the East coast and on various Indian Tribal grounds spread widely across the rest of the United States. The establishments in these areas are very well regulated. With the creation of the Internet, gambling has found a way to permeate into all parts of the globe. Any computer with internet access can gamble in spite of of local laws. Internet gambling was one of the first websites created when the internet became more popular in the early 1990’s. Since then it has grown in popularity at an extremely high rate. Most of the Internet gambling websites are hosted and based in foreign countries in order to avoid the laws of the United States. Since most of the websites are not based in the United States the laws used to govern each site vary greatly.

History of gambling

Many bills concerning Internet gambling are currently pending in Congress. Gambling in and of it self is as old as we can document, as stated above, there are sections of the Bible that relate to the subject. However with the spread of the Internet coming to execution, more and more people are finding themselves using their personal computers to wager bets online rather than in the traditional Casinos. The world's first virtual online casino, Internet Casinos, Inc. (ICI) commenced operation on August 18, 1995 with 18 different casino games, online access to the National Indian Lottery, and also plans to launch an Internet sports book. The Interactive Gaming & Communications Corp. (SBET) is a publicly traded company listed on the NASDAQ Bulletin Board. The company accepts bettors' sports wagers phoned in to Antigua on a toll free line via satellite. Some foreign governments have also entered into the business holding their sites out to people worldwide. According to Rolling Good Times Online gambling analysis magazine, there are 452 gambling-related sites on the net and more are up and running every day.

Conclusion
 
The future of Internet gambling is anything but clear. The many opponents of Internet gambling point to the possible harms that already do, and will continue to, flow from its existence. While regulation or an all-out ban seems ideal to some, others argue that due to the nature of the internet and the gambling industry, any attempts at regulation will have a minor impact.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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