The size of the online gambling industry is hard to predict, but analysts generally agree that it has grown tremendously over the past several years. In 1997, there were fifty to sixty Internet casinos in the Caribbean, generating $300 million to $350 million in revenue. By 2000, there were an estimated 700 such sites. In addition, a recent study found that nearly half of these online casinos were operated by Americans. While the number of such sites continues to grow, more countries are getting involved, as well.
Various states restrict the operation of online gambling sites. For example, Louisiana prohibits the establishment of online gambling sites, and Illinois prohibits the provision of computer services to such sites. In Oregon, collection of internet gambling debts is prohibited through credit cards, checks, and electronic funds transfers. In addition, a person cannot be sued for Internet gambling debts incurred via credit cards. In South Dakota, gambling sites are prohibited, but this does not apply to licensed casinos.
If a parent or guardian is worried that a child might become addicted to online gambling, they should consider referring the child to a trusted adult for help. Besides offering support and education, these adults can also respond to their child’s concerns about developing unhealthy gambling habits. The Internet has numerous forms and it’s important to know your child’s gambling history before recommending online gambling. They can also get help if they’re struggling with gambling addictions.
Most online gamblers are younger. In fact, the median age of internet gamblers was 31.7 years old. Ethnicity also played a role. Non-whites represented 15.8% of the group surveyed, but made up 38.7% of internet gamblers. These statistics are indicative of a growing trend in the online gambling industry. However, there’s still room for growth. In the meantime, a new generation of internet gambling websites are opening up every day, and the numbers are only going to increase.
Despite the fact that online gambling is a $40 billion a year industry, there are many ways to make it fun and lucrative. From mathematically-based blackjack strategies to fun, online gambling continues to provide entertainment for millions of people worldwide. A new study published in a journal in 2013 suggested that nearly two-thirds of Americans engage in online gambling every day. But before signing up for an online casino, be sure to check local laws and regulations.
In November 2002, PayPal ceased processing transactions for online casinos, and the founders of three of the largest online poker companies were sued. Neteller was subsequently arrested and charged with money laundering and conspiracy. As a result, it’s difficult to determine whether online gambling sites are operating within the law. So, the question becomes, how do Americans protect themselves from online gambling? There’s still plenty of room for debate and confusion. But the new law has created a greater awareness of the dangers associated with online gambling, and we can learn more about the threats to our privacy.
Another risk is the possibility of a massive financial loss. While there’s a lack of concrete evidence, online gambling is a highly accessible and convenient source of entertainment. It’s also easy to hide – the internet is open 24 hours a day. It’s possible to play games and win huge amounts of money, and most sites accept credit cards and do not require you to load money onto your bank account. However, the biggest risk is the potential damage to your credit score if you make a substantial loss.