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Online Gambling Popular, But Could it be Illegal?

Online gambling has hit the jackpot.

After years of growth, it’s poised for its biggest year. That reflects a growing obsession with poker, advances in broadband and wireless technology and the temptation to strike it rich from a PC.

More than 2,000 gambling online casinos this year will rake in nearly $10 billion in revenue, most from U.S. consumers. That’s up 40 percent from 2004, making online gambling one of the Web’s largest moneymakers.

Poker revenue is expected to double to more than $2 billion and attract 1 million players a month. Americans play at 266 poker Web sites, up from 53 in June 2003, says gaming site CasinoCity (www.casinocity.com).

“Poker has jolted the industry,” says Mike Sexton, who consults for PartyPoker (www.partypoker.com), which is expected to haul in $1 billion in revenue this year.

Technology and television are paving the way. Peer-to-peer technology lets players compete head-to-head over the Internet in real time. Matches on ESPN, Bravo and the Travel Channel draw solid ratings. The popularity of poker, in turn, has further legitimized an industry once considered taboo by squeamish bettors.

“The fear factor is largely going away,” says Alex Czajkowski, marketing director for Sportsbook.com. “The bigger, more reputable online casinos are not going to rip you off, and more people are betting.”

Read the entire article at: NavyTimes.com 

2004 Online Casino News Archive

 

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