Share To The World...Read!

Friday, 11 September 2015

On-Line Gambling: Chance Taking At The Convenience Of Your Fingertips

On-line gaming has become such a global phenomena that it encompasses the revenue made by long time established casinos around the world in regards to earnings. Prior to the boom of on-line gaming, electronic lottery was already establishing itself as the very first form of on-line betting method that it was one of the most habit forming social indulgence that was patronized on a national level. Since it's early conception in the late 1960's, the Lottery had a big impact on a country's economical growth as it brought in billions of dollars into the socio-economic structure. It was not until 1994 that the small Caribbean nation of Antigua and Barbuda created a bill called the Free Trade and Processing Act that allowed organizations to be granted licenses to operate on-line casinos. Prior to this, a small software developing company called Microgaming was already developing an application that will ensure the security and privacy of it's users on-line. Microgaming was based on the Isle of Man and with the help of a company called CryptoLogic, and after numerous evaluation in testing their software for security flaws, safe trans actions can now be made which led to the operation of the very first on-line casinos.

The Kahnawake Gaming Commission was established in 1996 to regulate all on-line gaming activities in the Mohawk Territory of Kahnawake which also issued gaming licenses to most of the world's on-line casinos. This was to make sure that licensed on-line gambling operators and organizations follow a rule of fairness and transparency. Nearing the end of the 1990's, Internet on-line gambling was already picking up momentum as the third most popular activity that people indulge in on-line, next to browsing, on-line RPG gaming and social networking. From the time that it started operating in 1996 with just 15 websites, it has grown to as much as 200 websites in just 1 year at the end of 1997. Frost and Sullivan, a well known accounting firm disclosed that on-line gambling earnings that were generated by on-line operators were calculated to have reached more than $830 million dollars in 1998 alone. According to Frost and Sullivan, it also revealed that the most played on-line gambling that people played was poker and other variations of it, and that most players came from North America, particularly the United States and Canada.

In 2001, there was an estimate of 8 million people, who in one way or the other, actively participated in on-line gambling. Despite of some legislation and other lawsuits that were imposed, the number of people that indulge themselves in on-line gambling continued to rise which created some concerns for long time casinos and establishments that had seen a slight drop on their customers. By the end of the year 2008, the on-line gambling industry was said to have earned a total of $21 billion dollars in global sales. The Internet has made it much possible for people to play their favorite games, besides the traditional poker, which is still a favorite among aficionados, there are also other forms of on-line gambling games that now being played, thanks to the improvement in regards to Internet technology. A good example of such games are Keno, Scratch-cards and Video Lottery Terminal.

Even traditional off-line gambling events have already joined the Internet bandwagon and have started to capitalize in on-line gambling as a very influential means to draw in crowds of avid gamblers who find the convenience of on-line gaming in the comforts their homes. A few traditional gambling activities that have decided to go on-line in order to attract more patrons are soccer, horse racing, car racing, rugby, boxing and basketball have now opened up to on-line betting. Horse racing holds a substantial percentage on wagers that are made on-line as on-line operators and betting exchanges offer a wide variety of racing events that cover most of the major races all around the world.

On-line gambling is not only limited to computers as it is now also available on most mobile smart phones that offer similar sites that cater to the mobile market application. With improvements of mobile technology, it was now possible for anyone with an Android smart phone to make real time on-line wagers on a game of their choice, provided that they have a decent Internet Wi-Fi connection. Many on-line betting services have already implemented In-Play gambling services that allows bettors to actually input their wagers as the games are being conducted. This sort of betting allows people to catch up with most on-line bets which are mostly sporting events. This gives on-line gamblers a whole lot of other choices to bet on besides the usual method of who would win or loose. Some options that a bettor can put their money on are the final scores, overtimes, or in the case of a soccer match, which player gets the yellow card first or who gets fouled out.

On-line gambling, the convenient means of betting and the ways of how to acquire your winnings have always been the center of issues concerning the security of transferring money on-line. The most common method of betting and getting paid off is through the use of credit cards, electronic checks, money order, certified checks and even wire transfers. Most of the time, people that indulge themselves in on-line gambling avail credits from the establishments that provide the service. They can make bets on the games that they offer through one of the most acceptable terms of payments that were mentioned. People who frequently gamble on-line often use their credit or debit cards and withdraw their winnings through the same procedure. However, it is noted that most American banks prohibit their clients to use their credit cards for the purpose of on-line gambling and attempting to do so would disable their accounts for 24 hours. 

In view of this predicament, a number of electronic money services have been catering to people who would like to fund their on-line credits for the sole purpose of gambling, however, such companies like Moneybrookers, Neteller and FirePay had already have already discontinued their services in the United States. Accepted payments in the form of wire transfer or checks are also given credit by some on-line gambling service providers. In 1999, the National Gambling Impact Study reported that Internet games, particularly on-line gambling, provided instant “gratification” that it may cause an evolving social problem which was termed “pathological gambling”. On-line gambling was said to be 75% more habit inducing than that of going to legally endorsed gambling establishments like that of Las Vegas or in Atlantic City. Furthermore, the study shows that because of the privacy involving private on-line users, other American states which prohibit gambling are now able to participate in any form of gambling which is totally beyond the governments jurisdiction and control.

No comments: