• Online gambling in the US within the past 15 years has caused several problems within society • Addicting • Takes money away from stock markets • Destructive for families
• •Most dangerous form of gambling because of the wide availability of the internet • Can access virtually anywhere • the privacy of your own home• Destroyed lives• Negative impact on stock markets• Destructive for society overall.
• The first online gambling operation can be dated back to 1994. In 1994 the government of the Caribbean nation of Antigua and Barbuda• These two countries both passed the free Trade and Processing act. • The next 5 years would result as a domino effect
• The Safe Port Act, which was signed in 2006 by President Bush • Money laundering • In April 2011, two major online poker web sites were seized by the FBI. Full-Tilt Poker and Poker Stars
• Negative impact on stock markets • Money Multiplier affect• Money laundering• Siphons money away from traditional markets• Advances in internet technology • Gambling from home vs driving to the casino • Privacy of your own home • Loop holes in age verification • Sites not not paying their dues to player’s who win.
• Interesting topic• # of friends who gamble online• Further understand why online websites got shut down by the FBI• Internet technology• Off shore gambling
• The gambling industry has grown tenfold in the U.S. since 1975 • Online gambling being a huge part of the growth• Internet gambling has nearly doubled every year since 1997 – in 2001 it exceed $2 billion• The Internet boasts 110 sport-related gambling sites
• According to the American Psychological Association the Internet could be as addictive as alcohol, drugs, and gambling• Divorce for problem gamblers is nearly double that of non-gamblers• Avg. debt by a male pathological gambler in the U.S. is between $55,000 and $90,000 • 15,000 for female gamblers
• Internet gambling being called the “crack-cocaine” of the internet• Most online gamblers are male• Most online gambling sites used by people in the US are off-shore• Only 7 of the top 37 stopped underage users
• Bad for society• Internet leads to higher addiction• Off-shore gambling• Technologies still being developed to stop underage users