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Annual Internet gambling revenue
"estimates" vary from lows of only $10 million
per year to chart-crashing highs of over $100
billion. Cybergambling, according to Evan
Schwartz of Wired Magazine, could become the
next frontier that’s paved with gambling
dollars. Besides casinos, racetracks and sports
betting, we may look forward to endless gambling
activities i.e., video game tournaments, real
world events and odds on all of these events.
According to Smith Barney’s Jason Ader, gaming
in the United States could be a $100 billion
industry if it were available "on demand" at any
time. You can now even obtain statewide lottery
numbers over the net 24-hours a day. Since there
is no one regulatory body controlling these
entities, one can only imagine the actual amount
wagered throughout the world. At the First
Annual International Conference on Internet
Gambling, it was noted that between 80 – 90% of
the action is coming from U.S. bettors.
When you browse the Net today you’ll find about
300 gambling-related sites, over 163 of which
you can place bets. One of the concerns that
many persons in the compulsive gambling
prevention and treatment field have voiced is
the lack of many monitoring of these games.
Anyone can sit in front of their PC in the
privacy of their home, office or school computer
lab and access numerous legal and illegal
gambling services. The computer does not ask you
for proof of age or have a security force
checking your ID.
The Federal Wire Act may even prohibit gambling
over the Internet. In 1998, 14 operators were
indicted by the federal government for Internet
gambling. In May 1998, several individuals
pleaded guilty. It is expected that by the
summer of 1998, Congress may vote on what has
become known as the "Internet Gambling
Prohibition Act", an attempt to impose a
nationwide prohibition on Internet gambling
operations. This bill is sponsored by Senator
Kyl, R – AZ, has gathered much attention on both
sides of the political isle. For a gambling
industry perspective of the Kyl bill, visit
rgtonline, the site of the electronic industry
publication Rolling Good Times Online magazine.
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