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Las Vegas, it’s a town built-in the midst of a dessert. Geographically, this city might not happen to be well suited for habitation because of its harsh climate. But despite of all these, the place has been a paradise to many people, the gamblers. What should have been a dry and barren land became a haven of wealth, and abode of the world’s greatest structures. All that is good in Las Vegas owed itself to one vice, gambling. Gamblers from all of the corners of the world come here to place their bets in every casino, bluff every poker game, pull lucky levers of excellent slot game machines, and enjoy the thrill roulette. This thriving industry has set this city as one of the most exciting city of the world.
On the contrary, Las Vegas has found itself a competition. But not from another gambling towns like Monte Carlo and Macao. It really is in the Internet. Online gambling has also fints its way within the dotcom business. The primary reason of this business success is a thriving millions of potential bettors throughout the world connected by World Wide Web. Unlike going to Las Vegas or every other gambling city, gambles wouldn’t pay for airplane ticket and high room accommodation rates in a five star hotel found within the city. All they have to do is to sit down in front of their PC Screen and take pleasure in the clicking of the mouse while being thrilled of the coming results within the online gambling. In online gambling, gamblers need not to worry to store their cash within the vault. Every monetary transaction is performed through bank transactions. The industry extends its benefits to the financial sector from the bank fees in every transaction.
Online gambling has also finds its own adherents in the Internet. These enthusiasts gather in an online forum discussing about gambling as well as the odds of the house. Additionally there are gambling sites, which the gamblers called the rogue sites. They are sites that might not permit the credit won to be withdrawn immediately. Some sites would only allow a particular quota of the credit earned or perhaps a certain time to ensure that bettors may have no other choice but to place the bet until also they can meet the prerequisites of withdrawal. This would eventually make the home always in favor of the odds. Online gambling forum warns online gamblers to these rouge sites.
While the gambling industry will be promising, it has also their nemeses which lead its way into its downfall. One of this really is the gambling site operators themselves. Obtaining a random number is still an arbitrary. Many skeptics believe that online gambling programs can be manipulated. Other gambling sites counter this skepticism by publishing their audit of odds and even announcing the bigger probability of winning of the bettor. Not forgetting also the rouge sites who are sharking on the bettors’ money leaving them always empty handed. These are few issues that considerably affects the business.
But there is absolutely no greater adversary of the business than the US government itself. Everything has been changed after 9/11 bombings. The Wire Act has been promulgated to combat money-laundering cases. Money laundering has already been outlawed in the US and some parts of the world. It is believed and an accepted idea that laundered money is the source of funds for terrorist and other criminal syndicates. The anonymous nature of the bettors may be potential way of harboring fraudulent money transactions. With this reason, has reached its darkest period when it was outlawed within the US. Major Internet site follow suits by removing any advertisement promoting online gambling. On the contrary, online gambling has also won some allies within the US Congress as a result of its potential cash cow for tax. Rep. Barney Franks, Robert Flex, and Jim McDermott passed different congressional bills that will legalize and regulate operations of online casinos. It is yet to be known if these bills can pass the us Congress. But online casinos have already lost millions in terms of a potential market within the US.
While the US is hostile to online casinos, the European Union and some Caribbean Countries welcome it as one of its thriving and growing industry. The outlawing of the online casinos in the US prompted Antigua and Barbados to present its case to the World Trade Organization. Thanks to the laws in trade liberalization, WTO favored them and rejected any claims by the US that is only protecting public safety in outlawing it. The case is presently in a debate in WTO court. Should the US Will loss the situation, they will be forced to legalize and pay indemnities to the affected countries as will be ruled through the WTO Court.
Online casinos may be the greatest rival to the traditional brick and mortar, but it’s yet to be seen should the worldwide public will accept it without any skepticism. Not only this, online casino has still to win its case to some countries, especially in the US, which outlawed them. It’s yet to prove that this industry will be not much of a vessel of fraudulent transaction. Online casinos might not yet equal its success to the real casinos; on the flip side, it’s going to eventually replace little by little the traditional ones. New technological innovation has also paved way to the new era of gambling industry.
