The internet’s ability to blur boundaries and society’s acceptance of casino gambling and sports betting ultimately shed light on the inconsistencies and loopholes of American gambling laws. From the makeshift sports book stalls in Nevada, most sports betting activities shifted operations and exploited the possibilities of cyberspace in the mid-1990s. At present, there are numerous online gaming sites catering to sports betting and casino gambling based in countries like Jamaica, Costa Rica, and Ireland.
Despite overseas-based operations, the lion’s share of the revenues and clients of these sites come from American states. In fact, recent studies show that these online casino gambling and sports betting sites earn more than legal casinos operating in Nevada pawang168
. The profits of online gambling and betting sites are estimated at $70 billion for 2005 alone. This is a staggering amount compared to the reported $2 billion from Nevada casinos. This is enough to overthrow the three-decade reign of Nevada casinos from the 60’s to the early 90’s. Considering that sports book and casino sites have been operating for less than two decades, they are clearly a threat to the thriving Nevada gambling scene.
For decades, Las vegas is the only place legal for gambling operations. Atlantic City followed suit and made casino gambling legal; the following decades saw the proliferation of state lotteries, card clubs, gaming ships, Indian casinos, and off-track betting salons across the nation. But still, these developments are not enough to compete with online gambling. The industry of online gambling is not even swayed by staunch opposition from legal US casinos. The gambling laws of the United states of america do not help, too. They vary widely from the different states. Most states ban all forms of gambling while some make exceptions. Inconsistencies like these make it easy for online operators to find and use loopholes in the law. The American Gaming Association maintains a defensive stand regarding online gambling. The association pushes for federal laws on the regulation of online gambling. According to them, the unregulated nature of the online gambling industry is its advantage over traditional casinos; regulating it puts both camps on even footing.
But despite this stand, some Nevada casinos are following the old stand-by: if you cannot beat them, join them. November 1998 saw the start of a new trend; traditional casinos started acquiring off-shore online casino gambling companies to improve their profits. An affiliate of the Hilton Hotels absorbed the Australian sports book Centrebet. com. Other Nevada casinos followed and this cycle again spawned a new barrage of debates.
Contrary to their earlier dislike of the online gambling industry, the traditional casinos set their sights higher. They are now pressuring the Congress to pass a law that legalizes online gambling. This is done in an effort to lower production costs; legalization means that they could now shift their operations in the us. Harrah’s and MGM Mirage, the two leading casinos in Nevada and undoubtedly owning their own online gambling sites, lead the casinos in requesting for the regulation of online gaming. Clearly, this move requesting for regulation does not intend to put traditional casinos at par with online sites anymore. The competition shifted between independent online sites and Nevada casino-owned sites. A move to regulate translates to double profits for the Nevada casinos. Gambling isn’t about winning, it’s about playing – and when there’s an immense opportunity to play, there’s undoubtedly a colossal industry in the making. This is precisely the notion that the internet gambling business thrives on; after all, a little accessibility can work wonders on any business. But the online gambling industry has gained more than a little popularity over the last decade, growing into $14. 5 billion market. What’s more, industry revenues are anticipated to climb to a whopping $25 billion by the year 2010 – nearly half of which is foreseen to come from US players, with Japan and China, who gamble twice as much as they shop online, trailing close behind. And the lingering threat of anti-gambling laws certainly isn’t doing much to slow the industry’s astounding speed of success.
But the proven growth of the internet gambling industry should not come as a surprise to anyone. Gambling, on its own, is of a nature that picks its winners and losers at random. Whether someone is an avid gambler or a first-time player, he or she has the opportunity to strike it big – and this ‘gamble’ is undeniably just as much a part of the appeal as the potential reward. But moreover, a better means of accessibility into the realm of an already booming business denotes inevitable expansion – and at an astonishing pace. This is just the idea behind internet gambling. No matter where in the world a person is, an internet connection paired with that one vital ingredient – money – will allow that person to place a bet. Even people who have never thought of setting foot in a casino now have the ability to venture into one at their own pace. And with over 2, 000 gambling sites, there’s certainly no shortage of choice.
But the industry hasn’t stopped at ‘traditional’ modes of gambling either. With such an incredible client backing, it currently has a bit of room to make things more ‘interesting’. It is, for example, straying from casino style and sports themed betting to wagering on topics within the entertainment industry. Will your favorite celebrities survive their relationships? Who will win at the Oscars? Place your bets! It’s like taking a trip to Las vegas – except you don’t have to travel, there are no bright, blinding lights, and the gambling never really has to end.