How Big is Online Gambling?
The industry has grown so rapidly, it’s hard to say exactly how big it is. Estimates range from fifty to sixty internet casinos in the Caribbean to over six hundred in 2000. Revenues reached nearly $2 billion. A number of online gambling sites offer free play. To start playing for real money, you must register. To do this, you must enter some basic information about yourself, such as your age, password and user name. You can then use your credit or debit card or one of the online payment services to fund your account.
While online gambling is legal, prosecutors have a hard time proving that online gambling operators “knowingly” transmit bets from U.S. citizens to overseas gambling sites. Additionally, they can’t trace bettors by their physical location. Nevertheless, the industry is growing and regulators are closely monitoring the activities of online gambling sites to ensure they meet regulatory requirements. Here are some common misconceptions about online gambling:
Many countries restrict or outright prohibit online gambling. While most countries in the European Union and the United States have legalized online gambling, others still prohibit it. However, there are several countries where online gambling is a legal activity, including Canada and the United Kingdom. Online gambling companies must have licenses to operate in these markets. You can look for these licenses in your locality. These licensing authorities should be able to assist you with any questions you may have.