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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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