Several new studies show that college students are flocking to online gambling websites in record numbers. The studies show a 12% increase in college students that participate in online gambling from two years ago. The unlawful Internet gambling enforcement act (UIGEA) was passed and became law in October 2006 by the government to curb the online gambling. But the UIGEA not deterred online gambling, but in fact has actually increased the Internet gambling activity.The US is considered the top Internet gambling market in the world and now high school and college age students ages 14 to 22 are getting into the act. One of the studies was conducted by the Annenberg adolescent communication Institute at the University of Pennsylvania. This telephone study found that in college aged males 16% admitted to gambling online that figure is up from 4.4% in 2008. High school students who gamble online on a monthly basis were up from 2.7% to 6.2%. Of the participants virtually none admitted to weekly online gambling.The woman in the study showed a significant jump in online gambling participation with high school females that gamble online monthly jumping from 0.5% to 1.5%. Women have been the driving force behind the explosion in poker in the US.Online poker players have been lobbying the US Congress to repeal the current UIGEA law. The new bill passed the House Financial Services Committee, but doesn’t look like it will be voted on by the full house before the end of the year. With no vote this year a new bill have to be introduced in 2011. The idea of regulating online casinos and poker rooms has many politicians including it in their campaigns. Hoping that this will help many states increase tax revenue and help balance the state’s budget.As a result of these studies it is projected that 400,000 college aged persons and 500,000 high school students gamble online at least once a month.
Let’s start with a definition. What is gambling? Gambling is betting on something that may or may not happen in the future. When we gamble, we take a risk, choose an uncertain outcome, and bet on it. Gamblers bet on casino games, horse racing, and sports where the result can’t be predicted with certainty. Some people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a New York City airport? How is gambling different from buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead in the long run. They may be risky but not in the same sense as gambling.How is gambling different from buying insurance? When we buy insurance, we are betting on something that may or may not happen in the future. We don’t want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. When we buy homeowner’s insurance, for example, we are betting our house will burn down and the insurance company is betting it won’t. (Of course we hope we won’t win this bet.) This isn’t gambling because the risk can be calculated. The insurance company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we will pay accordingly.People have gambled since ancient times. However, society never approved of it because it was labeled an attempt to get money without working for it. Society believed that hard work should pave the way to financial success. It wasn’t until the late 1960s that states (except for Nevada which had legalized all forms of gambling earlier) started to run lotteries to raise money for worthwhile causes. So why do we gamble even though we are unlikely to win in the long run? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some people gamble for entertainment or enjoyment, such as a night out with friends at the casino or a bingo game for a charitable organization or a lottery ticket. Some think they can beat the odds and make a living out of gambling. There are people who gamble because they simply love the challenge. They look at gambling as a game of skill or problem solving and they are sure they can win. Some like the environment or the thrill of a possible big win, or the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. There are no clocks in a casino; we lose track of time; we forget all our troubles. It’s like a therapy session! If we are timid, we can go to a casino and boldly take chances.Occasional gambling may be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that you can ruin you life or suffer other catastrophic consequences. So if you gamble, be sure to set limits and keep to the limits you have set.For more information about casino gambling visit my website.
An OverviewGambling nowadays is not related to a mere recreation activity albeit it has now taken a new direction into business and industry. For some it’s a pleasure activity and for the others it is a lucrative business. Although gambling is not at all a new sport which has emerged in this century, it has been a favorite of our ancestors and the historians date back the involvement into this activity to prehistoric times. It has been factually proved that even the early caveman was a gambler.Gambling to a layman would mean sport involving money and an easy way to multiply the same. Although being a part f this sport means staking of one thing or the other. History has witnessed several incidents where not only wealth and material objects were a part of this game but also one’s own identity or the ownership of a family member was staked.Gambling activity in this century has taken a two dimensional outlook. With high paced lives and scarcity of time for almost everything, even recreation activities are time bound. To this new age life, Internet comfortably snuggles in and creates a position of its own, thus giving room to Online Gambling. As compared to traditional gambling practices where one has to be physically available in the arena of casino, online gambling gives us the comfort of gambling in the privacy of our homes or café.To further elaborate on both the categories of gambling lets have a closer look into the basic features of both. Traditional gambling basically has three types of games involved namely the table games, random games and gaming machines. Almost all the categories in traditional gambling requires parting with physical cash and getting them converted into chips which are of various denominations and are then further used in the game. The only division of game which does not require conversion of cash into chips is that of slot machines. Here the gambler has to place a quarter into the slot machine and pull on the lever. There are still some games where cash is deposited, but that is mainly confined to games which involve huge jackpots. Generally in such games the basic deposit only sums up to a huge amounts.Online gambling, on the other hand, is a relatively comfortable way of enjoying the game. Needless to say the reason for its manifold popularity goes to the time factor and the availability of pleasure at the click of a button. Moreover, in order to attract more and more people into online gambling the owners make their sites tempting by offering various payback schemes and added advantages to its members. All sorts of games can be selected by just logging on the website. Basically the games available in this form of gambling can be broadly divided into two categories, one in which a particular software needs to be downloaded and the other which can be played without it as well.Comparative Analysis of Traditional Gambling and Online GamblingAlthough online gambling is gaining momentum, traditional gambling is still the undisputed leader in the business. There are pros and cons in both forms of gambling and it depends upon the personal liking of each gambler as to which form suits his or her requirement.In traditional gambling where one can find the adrenaline rising and pressure on one’s nerves, the same is a miss in online gambling to some extent. The pleasure of winning and celebrating can be only enjoyed in the traditional gambling. The drive behind playing it again and again lies in winning and celebrating, thus giving instant boost in business of the casino owners. Winning of one motivates thousands others to remain in the game. Thus if we see the involvement, pleasure and financial aspect of gambling, no doubt traditional gambling would take a lead into it.Online gambling, on the other hand, suits one and all to the extent of people residing in remote areas where availability of an actual casino is a miss. All it requires is a basic internet connection and you are into the pleasure of the sport. It gives you the leverage of time and space. Another advantage of online gambling can be that one can enjoy huge payouts and bonuses, but along with it the companies keep a catch of not paying the entire earned amount in order to make the gambler play for long. The reason for making a player gamble for longer durations is that generally the longer you play the chances of you losing increase, thereby making the casino owners reap higher profit margins.In terms of business traditional gambling is favorable to the casino owners. They have all the tools and tactics available to make a gambler play and stay for long which in turn means that the odds increase in the favour of casino owners. But for a gambler, traditional form of gambling may be of loss at times as the earnings are lesser than the actual amount earned. Generally the payouts are in terms of 5 or 6 times the actual amount put at stake but the casinos pay out lesser and so results in visible loss.ConclusionGambling in the eyes of gambler has its own dimensions which cannot be gauged by the critics. Form of gambling may have difference of opinions but the ultimate pleasure of sport cannot be undermined in either form of gambling.On the other hand gambling as a line of business may mean totally different to the casino owners. They would have an altogether different stream of thoughts to analyze the two forms of gambling.To sum up, both the forms of gambling have their own set of advantages and disadvantages and none of it can be said to be perfect. It totally depends upon the individual to choose from the options available which can satiate his or her desire.The only common thing in both the streams is to set up individual limits and to keep his or her decisive powers strong so as to know when to draw the line.