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Playing and Paying Big: The World of Internet Gambling Takes its Winnings

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.

Online Casino and Gambling Industry Is Gaining Momentum, So Is the Cyber  Threat - Security Boulevard

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 ufabet. 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.

Years after the dismissal of that case, the Internet Gambling Regulation and Enforcement Act had been proposed by Barney Frank. This act is asking for the government to legitimize internet gambling. It has sited ways on how to regulate internet gambling and how beneficial it is in bringing revenues in the country. This means that the country will receive several millions of dollars of revenue if online gambling is approved. Currently, this is act is still pending for further study and approval from the government.

Aside from this, Antigua and Barbuda have filed a complaint on the World Trade Organizations opposing the United States on the grounds of preventing them in participating in internet gambling. The WTO has been on the side of Antigua and Barbuda and thus granting them to claim some amount of money to penalize United States.

In all things legal, there’s no substitution for the advice of a qualified lawyer. However, a general idea of where the law stands on gambling and poker is a good place to start if you have concerns about playing poker for money online.

The first thing you should know about US gambling laws is this: recent events have brought a lot of attention to online wagering and the passing of the Safe Pot Act, which included an important statute about online betting, will make sports betting and most online wagers involving money transfers, illegal.

The second thing you should know about gambling and poker: there is a big difference between something like sports betting and gambling in a skills game like poker or bridge. There’s also a sizeable difference between betting in roulette or on a slot machine. As yet, these different forms of gambling have not been treated in the same way by the law; a ruling that applies to sports betting doesn’t necessarily apply – at least not yet – to online poker.

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