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Online Gambling Swot Evaluation

In: Philosophy and Psychology

Submitted By jrmoor2
Words 1164
Pages 5
SWOT: Online Gambling

Jonathan Moore

PHL/320

April 6, 2015
Aileen Smith

SWOT: Online Gambling

Gambling has always been a form of entertainment in the United States. Visuals of gambling by means of poker have been displayed as far back as the 1800’s in the days of the “Wild West”. Statements can be heard on the playground of elementary schools by kids saying “I bet you…” Sometimes these stakes are small and sometimes they are large. The total gambling industry is a large profit maker for many people and covers many different forms of betting such as legalized casinos, state lottery drawings, and sports wagering. Unfortunately, in the United States, gambling is still frowned upon when done online. However, is online gambling a completely negative form of allowing individuals to take part in their gambling ways?
SWOT Analysis [pic] The biggest strength for the push to legalize online gambling is that there is a total worldwide revenue for gambling in the amount of $400 billion. This is an amount that has the potential to grow by allowing more customers a chance to log in and entertain themselves in the privacy of their own home. Estimates show that this revenue can reach over $500 billion by only expanding throughout Asia. The U.S. gambling, or gaming, industry consists of about 500 casinos, about 450 Indian casinos and bingo halls, and lotteries in about 40 states with combined annual revenue of about $85 billion (First Research, 2015). This number can grow even larger with the amount of people the internet can reach. Currently there is an estimated loss for the United States of over $6 billion in revenue that users are spending by using foreign websites. This number is also a low estimate as to how much gain can be made as many users believe all internet gambling is illegal and don’t wish to entertain the option of…...

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