Preview

Internet Gambling In The United States

Good Essays
Open Document
Open Document
663 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Internet Gambling In The United States
Internet Gambling Internet gambling represents one of the fastest growing segments of online activities with hundreds of websites providing users the opportunity to place bets on anything, ranging from casino games to sporting events. Billions of dollars in bets are placed each day in these online gambling rings. Thousands of these sites exist and many countries' economies benefit from them. Sadly, America's leaders fail to see the benefits in allowing online gambling to take place on American soil. Whether it be for recreation or as their only source of income, hundreds of thousands of Americans participate in the phenomenon known as online gambling. For the countries (Great Britain, France, and a number of islands in the Caribbean) that host these sites, it means millions of dollars being taxed each year for allowing the gambling sites to exist. President Bush signed into effect in mid-October a bill that outlaws sending credit card payments or other funds to websites involved with online gambling. Consequently, many of the stocks of these corporations are bound to decrease severely, potentially hurting the nations' economy. A countless number of college students across America participate in online gambling, a small percentage of those depending solely on the money they make from gambling to pay for their tuition. This …show more content…
Before the new bill passed, a person could sign onto a gambling site, enter their handle and password, and have unlimited access to hundreds of betting lines, point spreads, and over/under numbers. One more click and they can place their bets on the game or race of their choice. With the new law, the aforementioned is a part of the distant past. Place a bet over the phone and rest easy. Place the same bet online and face stiff penalties including steep fines and possibly jail time. This simply doesn't make
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Fantasy Football: Illegal Gambling
    • 534 Words
    • 3 Pages

    Fantasy Football: Illegal Gambling

    Millions of dollars are generated on a daily basis and during the football season it is estimated to be in the hundreds of millions of dollars. Is the reason because of the amount of money, or from believe of it being called illegal form of gambling? In New York or Illinois the sites have been given permission to operate normally until the legal matter is resolved. Customers hat tend to play these types of fantasy sports games will find other ways to play if they are not permitted to play online. If State governments wanted to control gambling so they could track the money and keep it from going to underground gambling, then why not let the sites run normally but add extra taxes to pay the States. But is money the reason why this battle is being fought in the court room? I cannot answer that question truly, because regardless if it is allowed or not customers are going to go out of their ways to play fantasy sports. Will an agreement ever be reached were each side will be satisfied? No there will not be a fair satisfaction for either side because money will be lost and customers will have restrictions against playing fantasy sports for…

    • 534 Words
    • 3 Pages
    Good Essays
    Read More
  • Better Essays

    RSA Exam
    • 10133 Words
    • 82 Pages

    RSA Exam

    The gambling industry provides safe and supportive environments for the delivery of gambling products and services.  Customers make informed decisions about their gambling practices.  Harm from gambling to individuals and the broader community is minimised.  People adversely affected by gambling have access to timely and appropriate assistance and information.…

    • 10133 Words
    • 82 Pages
    Better Essays
    Read More
  • Powerful Essays

    PHL 320: SWOT And Strategy Evaluation Gambling
    • 1162 Words
    • 5 Pages

    PHL 320: SWOT And Strategy Evaluation Gambling

    Some people dream of monster trucks, yachts, and extravagant homes with horses running at large. I often dream of having these things and have confidence that others dream of these things too. Have you heard one of the following sayings, “The grass is always greener on the other side of the fence” or “Trying to keep up with the Joneses”? Financial resources, planning, time, and hard work are some factors that help make dreams come true. For some, dreams are placed on hold when financial resources are limited. As a result, some people turn to gambling…

    • 1162 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Journal Entry 8
    • 1425 Words
    • 4 Pages

    Journal Entry 8

    Gambling has most likely been involved in the history of humans ever since they came into existence. Since it is, in essence, the act of relinquishing a possession (such as money) in order for a chance to gain something else of greater value; society has been gambling for centuries. The Romans would attend gladiatorial games in which they would bet on the victor of fights to the death. During the colonial times, cock-fighting gradually became a gambling trend among “gentlemen.” In Chapter II of Roger Dunstan’s book, “Gambling in California” he notes, “One prominent researcher speculates that the appeal of gambling was probably heightened by the frontier spirit. The desire to explore new worlds is similar to gambling. Both rely heavily on high expectations, risk taking, opportunism, and movement.” (1997) As such, gambling can become a pastime depending on the context of the society practicing it. However, according to Dunstan, English investors and other stakeholders of the colonies deducted that gambling showed their poor ability to “sustain themselves” while also relying on support from England. (1997) Gambling may be a quick fix to earn copious amounts of money, but at the same time it can just as easily cause participants to lose money. Furthermore, although gambling does create a form of commerce, it does not directly help societies produce commodities that help keep them prosperous save for producing money for people at randomized and unreliable chances.…

    • 1425 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Gambling In South Dakota
    • 83 Words
    • 1 Page

    Gambling In South Dakota

    Some people may argue that alcohol and cigarettes cause many problems such as addictions and cancer. Gambling also causes problems that families may find just as harmful. However, South Dakota neither owns nor controls alcohol or cigarette industries, unlike their video lottery industry. An adequate way to raise money would not ruin the state’s constitutions. If South Dakota found another way to raise funds other than by instigating an addicting activity such as gambling, the families of South Dakota would be better…

    • 83 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Powerful Essays

    Gaming in Kentucky
    • 1200 Words
    • 5 Pages

    Gaming in Kentucky

    Proponents of gaming mainly speak to the economic benefits it will provide. They believe that gaming has the potential to create revenues of up to $1.7 billion for the state. Thousands of jobs will be created and help support a struggling horse racing industry. Slot machines at Kentucky tracks could protect the state’s $4 billion-per-year horse industry and estimated 100,000 horse related jobs by allowing Kentucky to compete with other state that have more attractive racing and breeding incentives, such as larger purses. Purses in New York and Pennsylvania are expected to be much larger than Kentucky’s in 2013 due to expanded gaming. Kentucky’s Horse Industry is a strong supporter of expanded gaming as long as there are some protective measures that help race tracks, such as only allowing expanded gaming at current tracks. Gaming can create revenue without…

    • 1200 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    What Does The Super Bowl Effect?
    • 995 Words
    • 4 Pages

    What Does The Super Bowl Effect?

    The Super Bowl is the most watched television program event of the year in 2012 the game recorded and posted 12 million live viewers and making a direct impact on the hosting city revenues especially in sport bars and restaurants shopping malls. However there is a bad side to it and that it’s also one of the biggest sports gambling affair of the year. According to the American Gaming Association, which signifies the country’s casino industry, predicts that there will possibly be $100 million worth of legal action around this year’s Super Bowl. That’s a microscopic fraction of the $3.8 billion in illegal bets expected to be placed on the weekend of the Super Bowl a big reason for that is the recent surge in popularity for large amount of bets things like the coin flip outcome or length of the National Anthem which one exec has argued are now even bigger than the game. (…

    • 995 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    The Land of Labor and Luck
    • 3014 Words
    • 13 Pages

    The Land of Labor and Luck

    Gambling is the world’s second oldest industry, but in the past has been viewed in a condemning nature. Many have viewed it as immoral and destructive. The government, taking the middle ground labels it as a vice, but will allow small-scale monopolies to non-profit organizations. These constituents have conditions that state that revenues must be used for good causes and they must not over stimulate demand. (15) Commercial casinos that were first permitted, while heavily regulated to protect citizens, only allowed the wealthy to be patrons.…

    • 3014 Words
    • 13 Pages
    Powerful Essays
    Read More
  • Good Essays

    Legalizing Gambling In Ohio
    • 921 Words
    • 4 Pages

    Legalizing Gambling In Ohio

    Just a decade ago gambling was limited to two cities in the United States, Las Vegas and Atlantic City. Today there are only two states that don't have some form of legalized gambling, such as lotteries or bingo. Since commercial casino gambling was legalized in Nevada in 1931, the public attitude toward gambling has shifted from prohibition to permissiveness. Pamela M. Prah discovered in 2004, that there are "11 states that have commercial casinos, six have riverboats or docked casinos, and 23 states have within their borders casinos that are owned and operated by American Indian tribes." There is no doubt that legalized gambling has "exploded in the region and around the country, from the internet and multistate…

    • 921 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Australian Casino Industry and Competitive Analysis
    • 3431 Words
    • 16 Pages

    Australian Casino Industry and Competitive Analysis

    The purpose of this report was to gain a better understanding of the Casino Industry. It identifies the many contextual and diverse factors that influence this particular part of the gambling industry in terms of the type of customers they attract, how it is shaped by government policies, the impact of suppliers and buyers of the market, competitive rivalry, and organisational generic strategies.…

    • 3431 Words
    • 16 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Heart
    • 8291 Words
    • 34 Pages

    Heart

    The expansion of legalized gambling poses a number of issues for policymakers. Two related issues, which have not been dealt with extensively from a public policy perspective, are examined in this commentary: state responsibility for addressing pathological and problem gambling, and the legal status and regulation of Internet gambling. A review of the recommendations of the 1998 National Gambling Impact Study Commission on pathological and problem gambling as well as state policies and practices indicates that little has been accomplished in dealing with the need for education, prevention, and treatment. Confusing and contradictory legislation and policies abound. Internet gambling flourishes, and federal and state governments are ambivalent about legalizing it. Both problem gambling and regulation of Internet gambling urgently need attention. The legalization and regulation of commercial gambling involves a wide range of public policy issues. These include such matters as how jurisdictions decide to legalize gambling in the first place, and what forms of gambling to legalize (e.g., lotteries, casinos, pari-mutuel racing, bingo). Another policy issue faced by jurisdictions that already have some form of legal gambling is the decision of whether or not to expand existing forms or add new ones. Once gambling has been legalized, jurisdictions face the issue of how to regulate it. For gambling businesses to succeed, gamblers need to be confident that the games are honest and that they will be paid if they win. One role of regulatory agencies is to ensure that gambling activities occur in such a manner that these conditions are met. Decisions about all these matters are made in a highly politicized environment and are shaped by a variety of competitive forces. The initial decision to legalize any form of gambling is typically supported by those likely to benefit financially or politically in some way and opposed by…

    • 8291 Words
    • 34 Pages
    Powerful Essays
    Read More
  • Good Essays

    Legalizing Gambling In The United States
    • 584 Words
    • 3 Pages

    Legalizing Gambling In The United States

    Gambling is legal in many places, it's not either a criminal or dangerous activity provided it is done responsibly, and in accordance with the law. Have you ever wagered on a game? If so you were gambling and should have been fined. Lawmakers have decided that it is evil to gamble, they have justified it as a means to scam billions from citizens in order to compensate for their mismanagement of tax revenue. They pass laws that could put a taxpayer in jail for placing a single dollar wager on a pool game. Legalizing gambling nationally could potentially benefit our economic situation.…

    • 584 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Why Gambling Is Bad
    • 563 Words
    • 3 Pages

    Why Gambling Is Bad

    Gambling is getting more and more common in todays society. There are several shows on TV…

    • 563 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Should Tobacco Companies Be Held Responsible
    • 414 Words
    • 2 Pages

    Should Tobacco Companies Be Held Responsible

    The video game company Blizzard employed a number of these methods into their game World of Warcraft and it is the reason people have lost their marriages, jobs, and educations unable to stop. A video game, formatted in an exact specific way to trigger the same things as gambling.…

    • 414 Words
    • 2 Pages
    Good Essays
    Read More
  • Best Essays

    Trading in Massively Online Game Makes Real Money in Virtual World
    • 2949 Words
    • 12 Pages

    Trading in Massively Online Game Makes Real Money in Virtual World

    This paper analyzes the issue of earning real world money from virtual world and the role of taxation on that income. Many virtual worlds have their own internal trade based economy similar to real world economy with its own currency acting as a medium of exchange. A huge virtual money flow in MMOG, so a virtual economic flow can be exist which can effect the real world economy in terms of tax pay. And the gamer integrate real cash into the virtual world through an internal currency exchange system. It illustrate the issues of taxes in virtual games recognizing income could be established by regulators at the point when in-game transaction occurs and at the time of converting game assets into real world money. The tax in MMOG is calculated from gross income of gamers when they receive anything of economic value, whether in the form of cash, property or services. MMOG tax can be collected by voluntary reporting and Internal Revenue Services (IRS) initiative and participating from different nation belongs to their country’s tax rules and regulation.…

    • 2949 Words
    • 12 Pages
    Best Essays
    Read More

Related Topics