Online Gambling – The Rewards That Make a Difference in Your Game

Human beings have engaged in betting since antiquity. For a long time gambling was an activity that took place only in exclusive casinos. Not everyone could afford or access these places. Online gambling, which became a reality around 1995, allowed gambling to be a past time for many more people. Software that simulates games of chance had been in existence for a while. The use of internet became common place and inexpensive and was crucial to the establishment of gambling websites. Another necessary factor was the mechanism to make and receive payments online in a secure manner. The final piece of the jigsaw puzzle was the creation of authorities that licensed and regulated gambling operators.

Once gambling websites were established around 1995 they began to proliferate quickly. The period 2000 to 2006 was a boom time for the online gambling industry sa gaming. This is because online gambling offers many advantages over land based gambling. The biggest advantage is that players can engage in online gambling from home. All that they need is a home computer or lap top with an Internet connection. Players no longer have to spend money to travel to the casino

No spending time and money to travel to casinos or going on holidays to Las Vegas. Players can come home and immediately log on to their favorite online gambling site.

Online gambling is exceptionally convenient for people who are afraid of posh casinos, with well dressed staff efficiently conducting operations and knowledgeable players who are proficient at the art and science of gambling. Internet gambling is an anonymous activity. Many of these games are played solo with the online casino software. Even in multiple player games there is no need to be face to face with other players. Most of players use nicknames and no one need know from which part of the world they are from. They can make their mistakes without fear of being made fun of and can learn the ropes at their own rate without worrying about losing a lot of money. And formal dressing can be dispensed with.

Another major advantage of gambling websites is that it delivers greater average returns to the player. The costs involved in setting up and operating internet gambling sites is much lower than that for land casinos. Because there is no real estate, there are no expensive buildings and minimal staff to pay. Thus making gambling sites do not need to make a lot of money to cover their costs and provide a return to their owners. Because of the competition in the online gambling industry, the savings are handed on to the players in the form of larger average returns. This is particularly evident in online slots where the average return is around 95%. Where as land based slots the average return may be well below 90%.

Online gambling today covers a wide range of product verticals. Sports betting can be conducted online. Players have access to the most current odds and can even engage in live betting through online gambling. Poker is yet another well-liked form of gambling. Players can play both fast cash games and in online tournaments. Online casinos offer gambling on blackjack, baccarat, roulette, craps, video poker, online slots and other games. Other forms of online gambling can include bingo and financial betting.

Internet Casinos Inc. (ICI), the world’s first online casino, started operating from August 18, 1995, with 18 different games. Since then more than 1,400 websites, mostly domiciled in small Caribbean islands, have given rise to an industry that grosses over $3 billion a year. In fact no business on the Internet earns more revenue than online gambling. Out of the estimated 14.5 million online gamblers, almost 30 per cent are from Asia.

A bet can be placed in minutes. Anyone with a credit card can set up an offshore currency account with a gambling site, leaving them free to place bets on sporting events like Wimbledon, cricket, horse racing and Formula One, or join a virtual casino to play slot machines, roulette, blackjack, poker etc. Companies like Flutter and Betmart accept bets on anything from who is going to win the Nobel Prize to whether Madonna is getting a divorce or not. Bets can range from a nickel to thousands of dollars and according to whether you win or lose the amount is automatically adjusted to your account. The final balance can then either be mailed to you or left for future bets.

The law relating to online gambling in India needs to be understood within the country’s socio-cultural context. At the outset, gambling, although not absolutely prohibited in India, does not receive express encouragement by policy makers. The Indian organized gambling industry is estimated to be worth around US$8 billion. While stringent laws have checked the proliferation of casinos and high street gaming centres as in many other countries, barring the state of Goa, the lottery business remains the most post popular form of gambling.

Though gambling is not illegal, it is a highly controlled and regulated activity. Modern India is a quasi-federal Constitutional democracy and the powers to legislate are distributed at the federal as well as the state levels. Gambling features in List II of the Constitution of India, this implies that the state governments have the authority to enact laws in order to regulate gambling in the respective states. Thus, there is no single law governing gambling in the entire country. Different states have different laws governing gambling in addition to the laws that have an application across the country. While some states have banned lotteries, other states allow state government lotteries marketed and distributed in other lottery playing and promoting states through private entities.

The courts have defined gambling as ‘the payment of a price for a chance to win a prize’. The dominant element of skill or chance shall determine the nature of the game. A game may be deemed to be gambling if the element of chance or luck predominates in deciding its outcome. As a result, Indian courts have held that betting on horse racing and a few card games are not gambling. The right to undertake the business of gambling and lotteries is not considered as a fundamental right protected by the Constitution of India. It may however be pointed out that the state government run lotteries make significant contributions to the state exchequer of several state governments and the Union government, and hence there is a resistance to complete prohibition.

 

 

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