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Online Gambling

The Basics of Online Gambling

Internet gambling is one of the fastest growing industries in the world. Millions of people play online casino games every day. However, before you start wagering your money, there are some basic rules that you should keep in mind. First of all, always read the terms and conditions of the gambling website. Then, only bet with money that you can afford to lose. Once you have learned these rules, you can begin playing with confidence and success.

In the late 1990s, online gambling began to gain popularity. By 1997, there were fifteen websites offering gambling. By 1998, there were 200 such sites. A Frost & Sullivan report reported that online gambling industry revenues reached $830 million. In 1998, the first online poker rooms were launched. In 1999, the Internet Gambling Prohibition Act was introduced in the US Senate, which would have prohibited U.S. citizens from playing on the internet. In 2001, the Internet exploded with multiplayer online gambling.

A study conducted by University of Pennsylvania’s Center for Economic Growth (CESGD) reveals that Internet gambling is legal in many countries. Most European Union countries and several Caribbean Sea nations regulate the activity. In the United States, however, there are no laws that specifically ban online gambling. The United States v. Scheinberg case outlines violations of the Unlawful Internet Gambling Enforcement Act, as well as bank fraud and money laundering.