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About Online Gambling

Gambling has had many different meanings depending on the cultural and historical context in which it is used. Currently, in west, it generally has an economic definition and meaning and typically refers to "wagering money or something of material value on something with an uncertain outcome in hope of winning additional money or material goods".

Online Gambling, more often referred to as "online gaming" brings in over $30 billion dollars annually, and thrives in The United States. Many levels of government have authorized multiple forms of online gambling: everything from online bingo games to multi-million dollar online poker tournaments.

Online Gambling is very popular among the gambling elite and the masses and hence is proving to be big online business for the online casino companies. Choosing the top online casinos for gambling is important if a player wants to make the most of their gambling experience and the great aspect of gambling online is that one is able to visit a variety of casinos with ease before making a decision as to where one wishes to play.

There are many forms of Online Gambling

Online Casinos
There are a large number of online casinos, in which people can play casino games such as Roulette, Blackjack, Craps, and many others. These games are played against the "house", which makes money due to the fact that the odds are slightly in its favour. Some unscrupulous sites have been proven to offer rigged games, which are less mathematically fair than they appear.

Online Poker
There are a large number of online poker rooms which offer various games of Poker, most commonly Texas hold 'Em, but also Omaha High, Seven-card stud, and other game types. Players play against each other, with the "house" making its money through the "rake".

Online Sports Betting
Several major bookmakers offer fixed odds gambling over the Internet, with gamblers typically betting on the results of sporting events.

Others are Lottery (instant money at a small time and price) and Bingo (fastest growing game of the online gambling industry)

Money or Funds transfers for Online Gambling

Online Gamblers upload money to the online gambling company, make online bets or play the games that it offers, and then cash out any winnings. European gamblers can transfer their money to gambling accounts by credit card or debit card, and cash out winnings directly back to the credit card or debit card. However, U.S. credit cards frequently fail to be accepted. However, a number of intermediary companies - such as Neteller, EcoCard, Firepay, Instacash and Moneybookers - offer accounts with which online gambling can be funded. Casino operators and online poker rooms often offer incentives for using these 'alternative fund methods'. Fund by cheques and wire transfer is also common.

General legal issues of Online Gambling

Online gambling is legal and regulated in many countries including the UK and several nations in and around the Caribbean Sea. While the US Federal Appeals Courts has ruled that the Federal Wire Act prohibits electronic transmission of information for sports betting across states, there is no law prohibiting gambling of any other kind.

Problems Of Online Gambling

Because the internet brings gambling right into a gambler’s (player's) home, there is concern that online gambling increases the level of problem gambling. In the US, the link between availability and problem gambling was investigated in 1999 by the National Gambling Impact Study (NGIS), which found that "the presence of a gambling facility within 50 miles roughly doubles the prevalence of problem and pathological gamblers". If this finding is correct, it is reasonable to expect that easy access to gambling online would also increase problem gambling.

 

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