Internet gambling is a two billion dollar a year industry with over a million players monthly. It has become an impressive business and that is currently not very well regulated.
The legality of online gambling is an open question at this time. Currently it is up to states to determine if gambling is allowed in their state. But, with online gambling the host of the gaming website may be out of state or even out of the country. Regulating this type of gaming will be very difficult.
States legalize gambling as a means to increase revenues. Lotteries and traditional gambling Mecca’s provide the revenue that the states desire. With online gambling the revenue will no longer reside in any particular state or even country.
Due to the legal issues and popularity gained by online sites, online gambling may actually threaten the future of traditional casinos. Conversely traditional gambling sites like Las Vegas believe online gambling will have the same effect and online shopping affects shopping at malls. Las Vegas and other gambling areas offer entertainment, crowds and excitement that cannot be achieved online.
Online gambling provides a niche market that is available to anyone at anytime. There is a place for gambling online and at traditional casinos. Personal choice and market demand will ultimately determine which method the consumer prefers.
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