The Growing Trend of Online Gambling
Unlike traditional casinos, online gambling provides the convenience and ease of gambling from the comfort of your own home. It is also a lot cheaper, offering a greater variety of betting products. With the advent of the internet, it’s hardly surprising that the number of people playing online is on the rise.
In 2007, 6% of the British population played on the internet. The gross win on gambling increased by more than 6 times to $400 billion in 2015. However, the most popular form of gambling on the internet is not a lottery.
Using the internet to gamble may not be the most effective way to hone your skills, but it could be a good way to spend your money. It’s important to look for a secure site, though, because your personal and banking information could be at risk.
One interesting trend has been the growth of online casinos. According to a recent report, more than half of the gambling market is coming from online sites.
In fact, a number of jurisdictions are recognizing the benefits of regulating Internet gambling. This will not only increase consumer protection, it will also generate taxation revenue.
In a case involving UIGEA violations, a company called K23 Group Financial Services was charged with illegal gambling. The firm agreed to pay a fine of $4.2 million to the government and start a public-service campaign. The same firm is charged with illegal Internet poker activities in a criminal case.