Gambling and betting date back to ancient times. Tales of emperors losing their wealth due to gambling, Monarchs losing their subjects on betting have all been part of our history. The modernised version of the same resulted in online betting. So let us have an insight into this gambling type.
About Online Betting
Popularly known as online gambling, this form of betting was first introduced to the general public in 1994. Since then, it has seen myriads of developments. By the end of the 20th century, the online gambling industry had more than 5 million participants. The number is going up by the day, and today, the Remote betting industry is valued at more than $40 billion.
This industry seems to be steadily growing, with stalwarts like Betway, Bet365, 22Bet and Dafabet expanding their prowess. Right from Poker, Rummy, online Casinos, and sports betting, the industry seems well established worldwide.
Online Gambling throughout the Globe
Gambling online had become a global phenomenon in the initial phases of the past decade itself. As a result, countries throughout the globe have either updated or implemented new laws to govern the same. Here are a few countries and their remote gambling scenario.
Initially, it was illegal to gamble remotely in the US. However, by 2012, most states legalised remote gambling and set up bodies to attend.
The United Kingdom legalised online betting in 2003, citing that they needed to update their gambling rules. However, the legislature believed that the gambling rules they had until then were still based on the 1960s.
The laws about online gambling are quite complicated since most of the powers rest with state laws. As per the “Bombay Wager Act”, betting in any form is illegal in Maharashtra. Though there is no uniformity, it can be said online betting is as risky legally as it is financially.
Impact of Online Gambling
Much like most of the trends, online betting has had its fair share of demerits as well. Individuals have lost out on family and livelihoods due to its addiction. In addition, many unfair means such as money laundering have also tarnished its reputation. Therefore, it is extremely important to understand that online betting should be considered nothing more than a leisure activity. 918kiss apk is already on its way to being the next big thing in the internet era. All we need to do is make sure that it doesn’t overdo itself.