GAMBLING. Online gambling is the interactive process of
allowing customers to wager money or credits in return for
games that have standardized odds. Online gambling has the
potential to be one of the largest interactive services. In 2000,
the global gambling market was valued at over $900 billion. A
growing portion of the gambling industry is moving towards
online gambling. Customers with a credit card and an Internet
connection are able to gamble on casino games, lotteries, and
sports books (horse and dog racing, boxing, team sports betting,
etc.) almost anywhere in the world.
Although there are some issues about the legality of gambling
online, the majority of online gamblers are located in
countries with regulations favorable to online gambling companies.
Many of these companies operate in places such as the
Caribbean, Europe, Australia, and South Africa. It is projected
that over $10 billion will be gambled online by 2002 as operators
take advantage of the huge audience reach and cost savings
of the Internet.*