In: Business and Management

Submitted By koengerlach
Words 289
Pages 2
you bet

the text is about online gambling. Prohibition of the brewing industry didn’t work and even the prohibition of drugs didn’t work. There is a little reason to suppose an effort to ban online gambling wil fare any better.

Since 2006 it is illegal for financial institutions to transfer between punters and online-gambling sites. After a dip, Americans are now betting online as much as they did four years ago. The reason is simple because, anyone who wants to gamble and has an internet connection can do so.

In 2009 the legal gambling market totalled $335 billion globbaly. Gambling is growing very fast in East Asia, especially in Macau, world’s biggest market. Online gambling is relative small. Horseracing will not disappear entirely, it still accounts for over 7% over the global market. It boomed when it was the only legal form of gambling available.

A desire to protect existing businesses from such disruption is one motive for banning online betting. Another motive is more high-minded: the urge, as with drink and drugs, to protect humans from their own nature, by outlawing a potentially addictive activity.

Online gambling is legal in Britain. Brithish punters are safer than American punters. In Europe there are sign of marketopening even in France, which has long protected its monopolies.

Poker has grown from a niche game to a booming one since it debuted in the late 1990s. Betting exchanges operate like an eBay for betting, allowing punters to offer odds and then matching them with takers.

Many still dislike the idea governments encouraging citizens to gamble. It is better to treat gambling in the same way as smoking. Legalize it but display the casinoes as successful companies.…...

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