What is considered online gambling? People also refer to online gambling as internet betting or virtual betting. This is because players play the games via their phones or computers. The games include sports betting, poker, slots, and other casino games.
Forms Of Online Gambling
The internet allows for an different types of Internet betting. A number of the betting platforms available online include; poker, casino, lottery, sports betting, racing betting, bingo, mobile betting amongst others. This allows players to make their choices of whatever games they’ll prefer.
Wrong Thoughts About Online Betting
Over time, people have wrong thoughts about betting on the internet. They include but are not limited to:
- Sites for online betting aren’t safe
- Some countries do not allow betting
- Winning is impossible
- People who bet can not control their feelings.
- Online sites for betting cheat their players
- and so on…
Yet, it’s important to note that different nations all over the world allow for online betting. In fact, these numbers of the countries are too many for one to say. Players still find a way to bet even in countries that don’t allow such.
Interestingly, since online betting became popular, its site owners have always took care to make sure that it is safe. They promise that their sites and their users’ data are safe. It is also important to note that top online betting sites are among the top safest on the web. Still, there are cases where online betting sites cheated their users. Yet, online betting owners know that it’s better to let their players know that they can trust them at the end of the day. Truly, it’s tough to win, but it’s not impossible. Just like offline betting, online betting also makes use of luck and smart play.
Of course, one can’t call every online player an addicted bettor. While some players can be easily taken by online betting, others know how to keep themselves so as not to lose control. There are more wrong thoughts as it concerns Internet betting. However, they’re just what they are: wrong thoughts, and nothing more.
What Is Considered Online Gambling? A Brief History Of Online Betting
Online betting officially became open to the public in October 1994. Liechtenstein International Lottery allowed interested players to buy tickets. That same year, Antigua and Barbuda passed the bill for the Free Trade and Processing Act. This allowed for intended online casino owners to apply for licenses for opening. Before this, Microgaming, a software company, was already open. This company introduced the first active software for betting. Cryptologic, another software company gave security to Microgaming’s software. Thus, it became safe to bet online. As a result of this, many betting sites began to go virtual.
Kahnawake Gaming Commission
Kahnawake Gaming Commission came on the gaming scene in 1996. Its duty was to regulate internet-related gaming activities from the Mohawk Territory of Kahnawake. This commission was also in charge of giving licenses to many online poker rooms and would-be casino operators in the world. This Commission was to handle issues relating to internet betting in a fair and just manner. This way, no one could call them unfair as they followed through with their rules.
How Internet Gambling Became Popular
Furthermore, online gambling continued to grow popular in the late 1990s. In fact, in the year 1997, there was an increase in gaming websites from fifteen to two hundred. By 1998 alone, revenues realized from internet gambling, was over $830million (U.S. dollars). In addition to this, online-based poker rooms came on the gaming scene that same year.
In 1999, there was an introduction of the multiple-player mode for online gambling. Unfortunately, it was in that same year that internet betting faced a real threat in the United States. The Senate suggested a bill that would prevent any corporation from offering any online-related gambling service to a United States citizen. Fortunately for players, the bill didn’t make it into law.
Since 1994, there has been a gradual and steady growth in internet gambling activities. In fact, more countries began to create laws that allowed for placing bets on the internet. Those who were interested applied for licenses and in turn, regulatory officers monitored and protected the trend.
Poker Comes On The Scene
Initially, gambling sites were exclusive to online casinos and online sports/racing books. The accounts for virtual gambling showed that sports betting had half the revenues. Although the first online poker room had launched online in 1998, it wasn’t as popular. By 2003, there was an increase in virtual poker started particularly in the United States. Ultimately, organizers held the “World Series Poker” show on television. Many players qualified to play the World Series of Poker.
Gambling In the 2000s and Challenges
The arrival of the millennial year saw more developmental changes and progress to this form of gambling. It was also in the year 2000 that the first Australian Federal Government developed the Interactive Gambling Moratorium Act. This Act made it illegal for internet casinos to operate if they didn’t have licenses. As a result, Lasseter’s Online was the only online casino able to operate legally in Australia. However, they were not allowed to receive bets from Australian citizens.
Unfortunately, in 2000, many legal challenges faced online gambling. Yet, by 2001, people that had played games online had increased to an estimated number of eight million persons.
The estimated revenue from games was three hundred and sixty-five million dollars ($365 million) in 2003. By 2006, this had increased to approximately two point four billion dollars $2.4 billion (U.S. dollars). With time, more types of Internet gambling came on the scene. These included online lotteries, online bingo, as well as skill game sites, and betting exchanges.
By 2008, H2 Gambling Capital estimated revenue from internet gambling at twenty-one billion dollars ($21 billion). By 2016, Statista predicted that the marketplace for Internet gambling would increase to forty-five point eighty-six billion ($45.86 billion). This would grow to fifty-six point zero five billion ($56.05 billion) by 2018. In 2023, experts predict that the market will reach an all-time high of over ninety billion dollars ($90 billion).
The Legality Of Online Gambling
The legality of Internet gambling isn’t an easy matter, since it varies from country to country. Certain countries state the precedent for internet gambling as it concerns the owners and players. Some countries haven’t any legal issues backing or restricting online gambling. On the other hand, some others have laws allowing residents and non-residents to play games for money online. Finally, there are other countries where there are set restrictions to certain sorts of online gambling. This may include both residents and non-residents.
Reasons For Online Gambling
- No Worries For Newbies
Beginners don’t need to worry about experienced players giving them mean looks. Also, there are no distractions which is a lot in land-based gambling houses. In addition to this, newbies can get beginners’ tutorials and on some sites, a free play mode.
- Privacy
Some people are shy and don’t want the world to know that they place bets. There are no crowds in the house as there are in betting houses. Thus, online betting gives players that much-needed privacy.
- Convenience
People can play from the comfort of their homes or when traveling. Betting is now easy ever since online betting came on the scene. All they need is to have their laptops or phones and access to the web.
- Choice of Stakes
You have the right to choose the stakes you want from internet betting. For instance, online betting sites provide a player the choice to play at any level he or she wants. On the other hand, playing physically does not.
- Safety First
It is safer to bet online rather than at land-based bettinh houses. This is because you may worry if you are going around with wads of money.
- Access to A Feast of Games
Many online casino sites do have many game services offered on sites. Various users/players would mostly find the type that suits their preferences. This includes slot machines, blackjack, roulette baccarat to poker, and much more.
Conclusion
What is considered online gambling? Truly, betting isn’t for the faint-hearted whether offline or online. It is exciting, fun, and entertaining. Better still, whenever there are wins, it’s always leaves you filling happy. For those who would like to try it out, you need to understand what it is about. Indeed, it’s a great way to have fun and also spend time.
