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Gambling and the US Economy

March 05, 2008 By: admin Category: online gambling No Comments →

Gambling can be exciting, but it can also be dangerous.  If you win, you could end up rich, at least temporarily.  However, it is much more likely that you will end up broke.

In the United States, the online gambling industry had grown to billions of dollars before the Internet Gambling Enforcement Act of 2006 was passed.  This law made it illegal for credit cards, checks or other banking transactions to be accepted by online gambling companies.

The law is enforced by federal agencies as well as state governments, and there are civil and criminal penalties for those who violate the law.  Before the law was passed, nearly 80 percent of all online gambling revenue came from the United States.  This is money that was being removed from the US economy, since most of the online casinos were being run from overseas.

Many online gambling sites offer good promotions to get customers to sign up at their sites and keep using the sites.  They are able to make large amounts of money from their American customers, which is usually put into the economy of the country in which the site is located.  Costa Rica is a good example.  There are many online gambling sites based in Costa Rica, and the money is pumped into the Costa Rican economy.

This is a good example of the problems faced by the US economy today.  The United States is losing jobs and even entire industries to companies that are running from other countries and selling products or services to the American people.  This draws money away from Americans to be used to build the economy of another country.  This has got American economists, politicians and businesspeople worried.  Over 2,500 of these leaders met at the Davos ski resort in Switzerland recently to discuss the situation.

At this meeting, the chief of the International Monetary Fund (IMF) announced that a weekly economic forecast would be made to keep track of the economy.  Many business leaders fear that other industries will follow the online gambling industry, leading to more Americans spending their money to support the economies of foreign countries rather than our own.

The Pros and Cons of Gambling Online

March 05, 2008 By: admin Category: online gambling No Comments →

There are many things to consider when deciding whether to gamble online.  One of the advantages of playing at online gambling sites is that you can gamble from your own home at any time.  If you are gambling at a casino, you have to travel there.  If you don’t live nearby, that can be a long and expensive trip.  This is one of the biggest advantages that online casinos have over land-based casinos.

However, this advantage could just as easily be a disadvantage.  For players who can’t control themselves, online casinos are too convenient.  It is much too easy for them to get into trouble because they have spent more money than they should have at their favorite online gambling site.

Many online gambling sites offer the same games that you would find at regular casinos, so there is no advantage or disadvantage there.  Online casinos even offer slots and video poker.  When playing the game of craps, however, there is an advantage to playing in a real casino.  That is feeling the excitement build up when you are trying to roll for a difficult number.  When you play online, you won’t be able to experience the other players’ excitement building when the game gets interesting.

Playing poker online can be a lot of fun, and it is possible to play a lot more hands per hour than you could at a real casino because the pace is faster.  However, in an online casino, you can’t read the other players.  This can be a big disadvantage if you are good at being able to determine whether your opponents have good hands by watching their body language.  It can be an advantage if you are not good at reading other players, or if you are one of those players who is easy to read.

There is also an issue with the way the cards are shuffled online.  At many online casinos, the aces seem to come up more often than they would in a live game.  There are usually not any long winning rushes online either.  It is rare to see one go longer than four hands.

Sometimes online slot games are set to pay out a higher percentage than regular casinos pay.  The online casinos are able to do this because it does not cost as much to run an online casino.  It is also much easier for online casinos to develop new slot games, so they tend to do so quite frequently.  Online casinos do not generate the level of excitement that is often seen in land-based casinos.  In land-based casinos, players get excited when they see other players winning, which makes them more likely to keep playing.

If you play online, you save travel expenses.  You also save on food.  This can result in you having more money to spend on gambling.  Many casinos, both online and land-based, offer incentives for regular players.  Since you are able to bet more online due to the savings on food and travel, you may be in a position to earn more bonuses.  The progressive slots at online casinos often offer huge jackpots, just like the land-based casinos.  Players can have a chance at winning millions of dollars right from home.

There are often more tournaments available at online gambling sites than at land-based casinos.  That is because the number of tournaments that can be offered at a land-based casino is limited by the amount of space available.  Since space is not an issue online, the number of tournaments possible is unlimited.  Online sites are able to offer tournaments that cater to people of all levels by running many tournaments with different limits.

It is easier for online gambling sites to advertise their special promotions because their customers are already at the website.  They can also e-mail notices to their customers about special games and tournaments that are being run.  This is much more inexpensive for the casino.  Live casinos often use billboards, radio ads, etc. to advertise their tournaments.  These forms of advertising are much more expensive.

Conclusions

For most people, the advantages of playing at online gambling sites outweigh the disadvantages.  However, there are some games, such as poker and craps, that are more enjoyable when played live.  These games continue to grow in popularity even online though, so most players still seem to think that the convenience of being able to play from home makes up for the diminished experience of playing the game.

Online gambling sites also offer players the chance to play their favorite casino games without the background noise or smoke that is present in many casinos.  You can play soothing music in the background while you are playing.

Online gambling seems to be here to stay, and online casinos are sure to start growing like crazy again as soon as the law that limits funding of foreign accounts is lifted.  Even though there are still some disadvantages to gambling online, the advantages are far more numerous.  If you haven’t tried playing at an online gambling site, you should start investigating the options.  You might be surprised at how much fun it can be.

The Prohibition of Online Gambling in the Netherlands

March 05, 2008 By: admin Category: online gambling No Comments →

Online gambling has grown very popular since it became available on the Internet.  Many people participate in online gambling for entertainment or to increase the enjoyment of sporting events.  However, the increase in online gambling has also led to an increase in the amount of gambling addiction.

In the Netherlands, the issue of gambling addiction is a huge one.  The government in the Netherlands has been looking into ways of limiting online gambling to cut down on the level of gambling addiction.  They are considering following the example set by the US when it made it illegal for online gaming companies in other countries to process credit card payments and bank transactions for US residents.

If the Netherlands enacts this type of legislation, it will not completely wipe out online gambling in the country.  However, it will create a monopoly because there is currently only one company running an online gambling site from the Netherlands.  Without competition, there are fears that the one remaining company would take advantage of people due to the lack of competition.  When there is no competition, companies are able to charge unfair prices, or in the case of an online gambling site, offer less favorable odds.  There is no other online casino that they could switch to if they were unhappy.

Also, as long as there is even one online casino being operated in the country, the law would not achieve its desired effect.  The people who are addicted to gambling would simply go to that site to gamble.

The Holland Casino, a land based state-run casino in the Netherlands, has received authorization from the Dutch Supreme Court to offer Internet gambling to residents of Holland only.  The company is limited to offering traditional casino games.  The European Commission does not approve of the Dutch gambling laws, which don’t allow Dutch citizens to gamble online at foreign-run sites.  The Commission wants online gambling to be part of their open market policy.  Foreign casino operations have attempted to build casinos in the Netherlands, but the government has denied all of the license applications.

The Risks of Gambling Online

March 05, 2008 By: admin Category: online gambling No Comments →

Gambling online is more convenient than gambling at a casino, but it’s also more risky.  Besides the normal risks incurred when gambling, there is the risk of fraud and scams at online gambling sites.  These scams are much too common.  The Internet is an easy target for all kinds of scammers and dishonest people, and some of them target those who gamble online.

Before you gamble at an online gambling site, there are some things you need to find out.  The first is whether the online casino is legitimate.  Be aware that scammers can copy the layout of legitimate casinos to make their websites look exactly like the real thing.  Make sure the site you are on is really what you think it is.

One way to avoid going to a phony casino, is to find an online casino through a trusted organization, such as the Interactive Gaming Commission.  If someone invites you to an online casino that you are not familiar with, do not make any deposits without investigating the site first.  If the site is a scam rather than a legitimate casino, they could wipe out your bank account before you realize what is going on.

You can search for members at online gaming organizations.  Most of the scammers do not bother to try joining these organizations.  Scammers usually change the name of their site frequently in order to avoid getting caught.

Another risk you should be aware with when gambling online is the risk of becoming addicted to gambling.  Of course, this risk is present in any form of gambling, whether online or off.  Gambling should never be viewed as a way to make some extra money.  It is a form of entertainment.  If you happen to win some money, that’s great.  But it should be viewed as a bonus, not the main reason for playing.

If you think of gambling as a way to make a living, then you may be addicted.  Be careful not to spend more money on gambling than you can afford to lose.  If you will regret spending the money once it’s gone, then you shouldn’t use it to gamble.

You can limit your risk while gambling by setting spending limits for yourself before you play.  You should also set a time limit.  Decide how long you will allow yourself to gamble and how much money you will risk, and then stick to these limits.  If you find yourself spending all of your spare time at the online gambling sites or dipping into money that you shouldn’t be spending, then you may have a gambling problem.

Great Tips for Online Gamblers

March 05, 2008 By: admin Category: online gambling No Comments →

There have been some great technological advances in gambling in recent years.  One of the most significant is the development of online gambling sites.  Now you don’t even have to go to the casino anymore.  You can gamble from your own home.  If your casino is full of smoke, or you don’t live in an area where there are casinos nearby, you can still gamble at an online gambling site.  Here are some tips that you should consider before gambling online.

You’re Not Due

No matter how long you’ve been playing, you’re never due for a win.  Your odds are always the same no matter how long you play.  Since the rules of each game are set to favor the casino, you are always more likely to lose than to win.  This is a good thing to keep in mind, to keep you from getting carried away and chasing your losses.  You are never due for a win, and the big jackpot is never due either.  It is just as likely to hit on the next spin as it was with every previous spin, regardless of how long it has been since a jackpot has been won on that game.

Choose Your Casino

Not all casinos are created equally.  They all have different rules.  This is true of online casinos as well.  Check out the rules at various online casinos and try out each one.  Don’t settle for the first one you happen to come across.  It may not be the best fit for you.

Play the Progressives

Many games are available in progressive forms, including slot machines, video poker, keno and Caribbean stud poker.  That means that these games have progressive jackpots that increase in size with each game until someone finally wins.  Shop around for the progressive games that offer larger jackpots with similar payout rates.  You can find the payout rates for many online casinos at websites that offer reviews.

Bonus Money

Look for casinos that offer bonuses, but make sure you read the fine print.  Read the rules and make sure you know what you have to do to earn a bonus and how you can use the bonus once you receive it.  You may be able to get a bonus of anywhere from $50 to $1,000.

There are a lot of online casinos that offer bonuses, so you should avoid the ones that don’t.  Look for casinos that offer reload bonuses as well as sign-up bonuses.  The more free money you can get, the better.  These tips will help you to improve your chances of winning big at online casinos.  So get started today, and good luck.

The History of Gambling

March 05, 2008 By: admin Category: online gambling No Comments →

Gambling is very popular in today’s society.  All kinds of people, young and old, enjoy gambling.  Many of them are getting hooked on some kind of gambling activity.  Gambling is a term that refers to the practice of putting money or possessions at risk by betting them against an unknown outcome.

There is always a chance of winning in gambling, which is what attracts the players to the game.  They are sure that if they keep trying, eventually they will win a big payoff from their efforts.

Even though gambling is popular, most people do not know how it started.  There are a lot of people who have contributed to making gambling what it is today.  Here is some information about how today’s popular casino games began.

Slots

The first slot machine was called the Liberty Bell.  It was invented in 1895 by a car mechanic named Charles Fey.  The Liberty Bell slot machine had three spinning reels that had hearts, diamonds, spades, and a picture of the cracked liberty bell on them.

Slot machines were first manufactured in 1907 by Henry Steven Mills.  This machine was called Operator Bell.  Many improvements and advancements have been made in slot machines since the first machines were invented.  Slots are now run by computers, which allow the machines to offer more combinations and larger payouts.

Older Games

Older casino games such as blackjack are harder to determine the origins of.  In many cases, no one recorded the identity of the person responsible for inventing the games.  Tales regarding the origin of these games are often based on legend, which may or may not be accurate.

However, there are records of more recent variations and strategies for many games.  One example is a book that was written by Cantey, McDermott, Maisel and Baldwin in 1958.  This book, titled “Winning Blackjack,” detailed a system the authors had developed which is considered the beginning of card counting techniques for blackjack.

People like these men have made a big impact on the way casinos operate today.  Many people do not consider the contributions of these people to be an important part of history due to the dubious reputation received by casinos and gamblers.  However, for those who enjoy gambling, these contributions are significant and should be appreciated by those who play the games.

7 Ways to Gamble Responsibly

March 05, 2008 By: admin Category: online gambling No Comments →

If you are going to gamble, you need to be able to set limits for yourself and gamble responsibly.  This article will help you learn how to do that whether you are gambling at a casino or online.

Gambling is a form of entertainment that can be a lot of fun.  It can also be profitable.  However, that is not the main goal.  Your main goal should always be to enjoy yourself.  You will probably enjoy yourself more if you go to the casino with your spouse or a group of friends.  You can have a good time together even if you lose.

While it is true that gambling can be fun, it can also become addictive if you’re not careful.  Here are some tips to help you fall into a pattern of problem gambling.  Your trips to the casino should be fun.  These tips will help ensure that they are.

1) Gambling should never be considered a way to make money.

If you need money, find a way to earn it.  It’s true that gambling can be a business, but it is only profitable if you are the owner of the casino.  Casinos are intentionally set up so that the casino has an advantage over the gambler.  Never forget that.

When you see the pictures of big winners holding up huge checks with large amounts of money on them, remember that many people lost money so that person could win.  You are much more likely to be the loser than the big winner.  Don’t get your heart set on winning that big check.  It is not likely to happen.

2) Never bet more than you can afford to lose.

Your rent money is not gambling money.  Neither is your grocery money, gas money or the money to pay the phone bill.  The money you use for gambling should always be ‘extra’ money.  Before you use any money to gamble, think about how you will feel if you lose it.  If you will regret it, then you shouldn’t use it to gamble.

3) Limit the amount of money you gamble with.

Set a spending limit ahead of time.  Once you have lost that amount of money, it is time to stop playing.  Never go over your spending limit.  If you can’t handle this, take the money out of the ATM machine ahead of time and drop your ATM card and any credit cards off at home before you head to the casino.  Only take the cash that you have decided to use for gambling.

4) Limit the amount of time you spend in the casino.

Set a reasonable time limit before you go to the casino.  Don’t let your gambling interfere with your life.  Make sure you leave in time for any appointments you have, or to get home in time that you will be able to get enough sleep before you have to go to work.

5) Stick to your loss limit.

If you lose the amount you had budgeted for gambling, leave the casino.  If you go over your limit trying to win back what you have lost, you are likely to lose more.

6) Never gamble when you are upset.

Negative emotions make it more difficult to make good decisions when you are gambling.  It’s hard enough to stop when you need to when you are feeling good.  Don’t make things more difficult on yourself by playing when you are depressed, lonely or angry.  Even hunger can adversely affect your decision-making.

7) Have a balanced life.

Your life should not revolve around the casino.  You need to have other things that you enjoy doing for fun.  Maybe you can join a gym, go fishing or hunting or watch a movie with your friends.  Find a hobby that you enjoy, and spend more time on your hobby than you spend at the casino.

Following these rules can allow you to enjoy gambling without putting yourself in danger of losing more than you can afford.  Be careful not to let your gambling become an addiction.  It should just be something fun you do once in awhile, and you should enjoy it.  If it is not enjoyable, find another way to entertain yourself.

20 Ways to Know if You are a Problem Gambler

March 05, 2008 By: admin Category: online gambling No Comments →

Gambling, like many other things, can become an addiction.  Unfortunately, it is often difficult for a person who is addicted to something to realize that they have a problem.  Here are some guidelines to help you recognize if you or someone you know has a gambling problem.

There are twenty questions that Gamblers Anonymous recommends asking yourself or the person you suspect may have a gambling problem.  If the answer is yes to seven or more of these questions, then it is likely that you have a gambling problem.  Here are the questions.

1)  Have you ever missed work or school because you were gambling?
2)  Have you ever experienced unhappiness at home because of your gambling?
3)  Has your reputation changed as a result of your gambling?
4)  Have you ever regretted gambling?
5)  Have you ever gambled in an effort to earn money to pay your debts or solve financial problems?
6)  Have you experienced lowered ambition of efficiency due to gambling?
7)  Do you feel that you must return to the casino as soon as possible after you lose in order to win your money back?
8)  Do you feel a strong urge to return to the casino to win more after you have won?
9)  Do you gamble until all of your money is gone?
10)  Have you ever borrowed money to gamble with?
11)  Have you ever sold your possessions to have money to gamble with?
12)  Do you find it difficult to use your gambling money to pay for other things?
13)  Have you neglected yourself or your family because of your gambling?
14)  Have you ever gambled for longer than you intended to?
15)  Have you ever gambled to deal with negative emotions, such as worry or loneliness?
16)  Have you ever done anything illegal to come up with money for gambling?
17)  Have you lost sleep due to gambling?
18)  Do you have an urge to gamble when you experience arguments, frustrations or disappointments?
19)  Do you ever have an urge to celebrate something good that happens by gambling?
20)  Have you ever thought about killing yourself as a result of gambling?

If you have a gambling problem, you need to get help.  You might think that since we sell gambling products on this site, we wouldn’t care that you have a gambling problem.  However, that is not true.

Gambling is first and foremost a form of entertainment.  It should be fun.  It you are spending so much money gambling that you are not taking care of your own needs or those of your family, then you are not having fun.  You are on a path of self-destruction that leads to stress and financial ruin.  We don’t want you to buy our products if they will lead to your destruction.  We want you to get help.

Gambling can be a lot of fun, and sometimes even profitable if done responsibly.  That means setting limits, and only gambling with money you don’t need and won’t be upset about losing.  Never use the money you need for your bills to gamble with.  You should only use your ‘extra’ money, that is, money that you really don’t need for anything and won’t miss if it is lost.

It takes discipline to set limits for your gambling, but it is necessary.  You can have a great time gambling at the casino if you are able to stick to your limits.  If you can’t stick to your limits, then you should stay away from the casino and find another way to entertain yourself.

The Different Forms of Gambling

March 05, 2008 By: admin Category: online gambling No Comments →

There are many different forms of gambling available today, but before we get into that, let’s talk about what gambling is.  Some say that it is a form of entertainment; for others it is a competitive sport.  There is always something at stake in gambling, but it is not necessarily money.  Sometimes people will gamble with their vehicles, livestock, real estate or other possessions.

Gambling has been around for a long time.  It is unknown exactly when it started, but it is likely that men have been gambling almost as long as there have been people on earth.  Items such as dice, which are often associated with gambling, have been found in ancient civilizations in Egypt, China, India and Rome.  Gambling is welcome in some countries, but others have banned it.  In the United States, most people are in favor of legalized gambling.  Now that there are online gambling sites on the Internet, people all over the world are able to gamble.

Many people think of gambling as a way to make money.  They try to approach it as a business or a job.  Unless you own a casino, you are unlikely to make money every time you gamble.  There is always a chance that you could lose your money.  Of course, there are many systems available that claim the opposite.  Beware of the people selling these systems.  They are usually just hoping to make a quick buck off of your gullibility.  No matter what system you use, gambling involves chance.  There is never a guarantee of winning.

So what type of gambling will suit you best?  There are many types available.  Here is an introduction to different types of gambling, along with a summary of each to help you decide.

Horse Racing

Horse racing is the number one form of sports betting.  Billions of dollars are spent at the horse races every day.  Horse racing is exciting, and many people are attracted to it.  It is often called the sport of kings.

Casino Games

Casino games always offer an advantage to the casino.  These games are usually based on mathematical principles, and the casinos set the rules so that they are in favor of the house.  Casino games include craps, baccarat, blackjack and other games.

Poker

Poker is a card game that involves strategy and skill, not just random luck.  Players try to get the best hand they can, and at the end of each hand, the pot goes to the player who succeeds in getting the best hand.

Online Casino

These websites offer games that are the same as or similar to games played at regular casinos.  Players can play against other players or against a computer.

Slot Machines

Players put coins or credits into the slot machines and then press a button or pull a lever to rotate the reels.  If the winning pattern shows up, a payout is given to the player.  These machines are often run by computers now, and the computer simulates the spinning of the reels.

Roulette

The game of roulette involves a special wheel with 37 or 38 numbers on it.  Players bet on where the ball will land when the wheel is spun.  You can bet on individual numbers or groups of numbers.

Fixed Odds Betting

In this type of gambling, you are betting on the results of a specific situation.  This can be the results of a baseball game, car race or other sporting event.  For example, if you bet on your favorite team to beat its opponent with 2-1 odds, then you win $2 for every $1 bet.  The odds are set according to the past performance of the teams, which are used to determine the chances of either team winning the current game.

Arbitrage Betting

Arbitrage betting provides a guaranteed outcome.  You place bets on all of the possible outcomes of a game to lower your risk in losing.

Responsible Gambling

Gambling should never be treated as a get rich quick scheme.  It is a form of entertainment that should be done in fun only.  If you are not having fun, then you are taking gambling too seriously.  Never bet more than you can lose without getting upset about it.  Remember that gambling can become addictive, and be careful not to let it become more important to you to win than to enjoy the game.