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Online
Gambling
Resources
by Jerry "Jet"
Whittaker
July 8, 2006
Internet is one of the greatest inventions of the
century and no one among the humanity can argue over it.
It made the world a small place to live in than ever.
Now every person can talk to another one from the other
side of the world. It's a big community where you know
that each and every person knows you and also you know
all the persons. Nowadays, most of the people use the
net to get information, to chat with other people and to
play games and not before long users found out that
there's something missing in the colorful atmosphere of
the web or the Internet casinos. It took few years and a
lot of cash and efforts to develop the Internet casino
industry but at least it happened the first online
casino was launched and the company that operated it
showed apparent profits from day one.
Online gambling- a rapid business
Online gambling is growing in an incredible speed, while
the history of the industry is still as new as the
Internet itself. The world's first effective online
casino started operating on August 18, 1995 with 18
different casino games, online access to the National
Indian Lottery, and plans to launch an Internet sports
book. In all, according to Rolling Good Times
Online gambling
magazine, there are 452 gambling-related sites on the
web and more are up and doing good every day. Site users
can either send cash through one of the companies
proffering secure payment methods for the Internet or
open an offshore account, a requirement for Americans to
use some sites. Bets can be as small as a nickel for
certain slot machines and go into the thousands of
dollars.
Economic structure of the online
gambling
The economics of the industry are unbelievable. While it
may cost up to $300 million to build a new resort
casino, some effective casinos were developed for only
$1.5 million and employ only few individuals as opposed
to thousands at traditional casinos. ICI approximates
that the company averages about a twenty four (24%)
profit margin, vs. the typical U.S. casino, which ranges
between eight percent (8%) to sixteen (16%) of each
dollar wagered. Interactive Gaming & Communications'
Sports International handled $48 million dollars in its
first year of 800 telephone line operations and prepared
an astounding profit.
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