The online gambling industry has been growing very fast, but 2005 is expected to be the biggest year in terms of profits. This year there is an increase of televised poker tournaments, casino games competitions for charity, advances in broadband and wireless technology and the possibility to become rich without having to leave the house.
More than 2,000 gambling Web sites this year will make approximately $10 billion in revenue, an increase of 40% from last year. Most of the money comes from US gamblers who gamble at 266 web sites. In 1996, when lawmakers first threatened to limit Internet gambling, thirty sites collected $30 million, which makes gambling one of the Internet's largest moneymakers, even though it is illegal.
According to CasinoCity.com, the revenues from poker are expected to double and attract one million gamblers a month. Poker has promoted the gaming industry and many people consider it a game of skill that can be played with friends sitting around a table or alone in front of one’s PC. Technology and television are paving the way. Technology allows players to compete in real time over the internet while televised tournaments in Bravo, ESPN and other channels draw solid ratings. Besides the poker craze, technology allows for more virtual roulette, slot machines, bingo and even wagering on sports events via cell phones and PDA’s.
Some believe that the fear factor is slowly disappearing. There are many big online casinos that care about their reputation that they will not deceit their customers.
Almost all gambling sites are offshore, where they are protected from US law. Federal and state officials have convinced some banks not to allow their credit cards to be used by cyber wagers. The federal 1961 Wire Act forbids the use of phone lines for placing wagers, however there is no national law that applies to Internet gambling.
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