Having an online gambling site can be a lucrative business. In fact, the online gambling industry has grown rapidly in recent years. It’s estimated that online poker alone generates over $6 billion in the US each year. Online casinos are not just for poker; they offer a wide variety of games and payment options to suit the needs of gamblers.
A recent survey by the Annenberg Public Policy Center found that college-aged males visited gambling sites at a rate of about 16.0% per month. This number is actually a drop in the bucket compared to the more than 530,000 females visiting the same websites.
The Internet has made gambling more accessible to young people. In fact, the average teen is gambling at rates two to four times higher than the average adult. Teens report gambling for entertainment, excitement, or even peer pressure. Gambling losses can cause a drop in self-esteem and financial anxiety. Teens may also steal to pay off debts or sell possessions to pay for them.
Among high school-aged females, sports betting was the most popular type of gambling. The biggest reason for the increase was the availability of online gambling venues.
The first online gambling venue for the general public was the Liechtenstein International Lottery. The largest gambling site on the Internet is Tropical Paradise, an operation in Costa Rica.
The Travel Act prohibits illegal gambling on interstate commerce. It’s not clear whether or not this act will prevent illegal gambling on the Internet. However, state officials have expressed concern that the Internet can be used to bring illegal gambling into their jurisdictions.