Internet has brought gambling into homes, and has made it available to everyone and everywhere in the world. The first actual online casino was formed in 1995, and now there are above 500 gambling websites on the internet. In 1997, $200 million was earned by this business. Online gambling makes at least $3 billion of annual revenue.
Gamblers log on to the website and deposit funds by using credit cards, certified checks, money orders, or through wire transfers. If they win/loose the amount is automatically credited/deducted from their accounts slot games philippines.
Addiction
As online gambling has gained popularity, it also gave birth to the gambling addiction. Now days, gambling addiction is the main concern that comes in the context of online gambling. It is a fact that legalized online gambling sites are the major source of online gambling. In traditional casinos gamblers use real chips or money, while online gamblers bet on a click of mouse instead of any tangible money.
Video gambling is more popular than other forms of online gambling because of its faster feedback. Sociologists and psychiatrists refer to it as ‘crack-cocaine gambling addiction’.
Restrictions for Minors
The reason behind the popularity of online gambling is that it is easily and quickly accessible to everyone. The advantage of online gambling is the unlimited time, where as traditional gambling has limited hours of operation. It is suggested that gamblers who have lost an incredible amount of money are more likely to keep betting on their computers than if they were sitting at a table with others watching. With unlimited potential for minors to access these online gambling sites, opponents of this industry argue that the only way to keep children away is to prohibit these sites to everyone.
Fraud
The instinctive nature of online gambling gives birth to various frauds. Online gamblers have no idea whether the game is going on fairly or not? The most common type of fraud is the abuse of credit card information and the neglect to pay out the winning amount to the winners, who can never approach them.
Prohibition
Canadian Law, section 207(4) (c), prohibits lottery schemes operated on or through a computer, video device or slot machine if it is not conducted and managed by a provincial government. This law clearly states that online gambling and its addiction is totally illegal. At this time, Canada should enact new legislation to address online gambling addiction, while, the American government is creating legislation to completely ban online gambling. The most important bill is the Internet Gambling Prohibition Act (IGPA).