In layman terms, Online Gambling is defined as the use of the internet with the help of mobile, tablet or computer to gamble. It means betting on the games, events over the internet. It mainly includes Poker, casino and Sports Betting.
Though gambling has always been there in different forms, it went digital in 1994. Online gambling is majorly played in the UK, where it is fully legal and has regulatory bodies to form laws and rules. While in the USA, Online gambling is a state matter, and hence there are no laws regarding this. Hence we cannot call it illegal. Though there are few states like New Jersey, Delaware and Nevada, which has regulatory bodies for same, as the USA, India also does not have any laws regarding online gambling, and hence, it cannot be called illegal.
Can Online Gambling Generate Money?
Ok, to understand if Online gambling generates wealth, the first thing which needs to be understood is how it works. So, there are online gambling sites where you need to open an account, put some money and then bet. That’s how it works. Now, who you play with? That depends on the kind of game. So, if you are playing slots or casinos or sports betting, then your opposition is the company itself, which organises the games or who owns the website. So, you are playing against the company, which made the game, so that it can earn money in the millions and billions.
Is Online Gambling Harmful?
No, it is not. Had it been harmful, it would have been illegal. Online Gambling is the same as Social Media, which is mainly for fun and entertainment.
Just as the purpose of Social Mediais to connect with family, friends, relatives and acquaintances that we don’tsee very often, but the moment one gets lost in the virtual life of socialmedia; they start losing real friends and family. The same is online gambling, which has the sole purpose of entertainment, but when it is misunderstood as a way of earning money or becoming rich, it creates vicious cycles of losing money.