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Effects of Online Gambling
by Jerry "Jet"
Whittaker
Oct 23, 2006
Effects of online gambling
Ever since Internet came into being its positive effects
are known to everyone, the uses of internet are huge and
rewarding. Some people with evil minds use the net for
wrong reasons which make it notorious. Internet gambling
is one such case in point, where gambling poses many
problems than convenience for there is no control over
the activities that go on the internet gambling.
Of
the $586 billion spent by Americans yearly on gambling,
about $1.2 billion of it is spent on gambling
through the Internet. It is expected that it can
increase to $10 billion in the future. The greatest risk
by Internet gambling is that there is no way to control
it and no way to regulate it gaming should be a
regulated adult activity. And even there is no
fool-proof way of checking that children can't access an
Internet gambling site. One more important aspect of
online gambling, is that these sites operate from
overseas which makes it more difficult to track
down the cuprites and bring them to justice. On the
Internet, regulations do not exist which makes the
fraudsters commit more frauds.
Online
gambling will affect the government’s tax collection
As
it is with any form of gambling internet gambling has
many problems for those who fight against gambling as a
bad and addictive kind of activity. As gambling helps to
add to the government’s tax revenues, and boosts
employment internet gambling does the exactly opposite.
With legalized gambling the government receives taxes,
for America taxes from gambling is an important source
of revenue, but with online gambling the government will
lose taxes. Another significant effects of online
gambling is that it will harm the credit card industry.
In the US many state and federal governments collect
taxes through legalized gambling which amounts to
millions of dollars. The Iowa state alone collected
$197 million by taxes and fees from the gambling
industry. The money gambled on the internet by gamblers
through companies do not pay taxes to the US government.
In 2000 $2 billion were gambled on the internet, one can
imagine the loss of tax revenues to the government.
Through legalized gambling revenue generated by gambling
industry is distributed to schemes of public welfare,
while in online gambling the revenue is lost to the net.
Even the money lost in lotteries is invested by the
government in government projects like building better
roads or improving education system because some of the
money from the purchased lottery ticket is given to
government.
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