Premium Essay

Internet Gambling

In: Business and Management

Submitted By dimafb
Words 1153
Pages 5
Dmytro Syroyizhka
Professor Bentkowski
Business Law and Ethics
5 October 2015
Internet Gambling Gambling has been a controversial topic in the United States going back and forth from the approval of gambling to prohibiting it. Currently some form of gambling is legal in all but two states, Utah and Hawaii. The revenues collected from gambling are much greater than those of the sum of revenues from theme parks, movie tickets, video games, and music recordings. As the Gambling industry continues to expand in growth and as technology continues to advance there is no doubt that the new types of technology are being used for gambling on the World Wide Web. Even though internet gambling is a relatively new sensation, it has shown to be the fastest growing form of gambling in the world and is an evolving field of research. The first online casino began in 1995, which was offering 18 different online games. The industry began growing so rapidly that about 30 million gamblers visited these internet sites in just the month of July in 2005.
The discovery of internet gambling has significantly developed gambling, allowing people to place bets on a variety of different games and events without having to leave the comfort of their home. According to the American Gaming Association, almost 3,000 Internet gambling sites allow users to wager on casino games, sport’s events, poker, bingo, and many other games. It became so popular that it creates about thirty billion dollars in revenue each year. Internet gambling is legal in 85 counties excluding the United States.
With the help of the federal Wire Act of 1961, the United States had made it illegal to place bets or wager on all online financial transactions at first. However in December 2011, the United States Department of Justice announced that the Wire Act will make it appropriate for sports betting to occur. The

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