Online Gambling is an Internet-based form of gambling that allows people to place wagers on casino games, sports and other events without having to leave their homes. It has gained popularity since the late 1990s, and there are more than 1,800 online gambling sites.
The Unlawful Internet Gambling Enforcement Act (UIGEA), signed into law in October 2006, prohibits credit cards and electronic payment services from being used for any form of illegal gambling. However, it does not prevent users from using these services to pay for other products and services.
Economic Impacts of Online Gambling
Although the economy benefits directly from the growth in online gambling, the industry also creates many economic concerns. For instance, the cost of litigation and unpaid bills incurred by consumers and card issuers is passed on to other consumers in the form of higher interest rates and fees.
Money Laundering and Criminality
In addition to the economic effects of online gambling, the industry is also vulnerable to criminal activity. A number of gangs use online casinos to launder money that they have stolen from other crime groups.
The majority of online gambling websites use computer software to facilitate the gaming experience. These software programs are either developed by the site itself or by a third-party.
Online gambling software may include high-tech features that make it more exciting for the player, such as virtual reality and multiplayer games. In most cases, players must be connected to the Web to play, but in some cases, they can download the software onto their own personal computers.