Gambling is one of the oldest past times and has been in existence for many centuries. Over the centuries, gambling has changed various forms and in the past two decades with the arrival of Internet Gambling, it has reached a new level. Today Internet Gambling is a lucrative business,with revenues rising from a mere $830 million in 1998 to a staggering$21 billion in 2008.Historically speaking, Internet Gambling was first licensed in Antigua and Barbuda in the form of online casinos in 1994.
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The most common and popular form is Online Poker, where the players compete against fellow players, with the card room, making money in the form of match fees and "rake". Online casinos now offer traditional roulette, blackjack and baccarat thus giving the users the same ambience. Sports betting has been legalised in many countries, where bets are placed on the results as well as scores of the matches in advance. Government run lotteries generate huge tax cash flows, so in order to protect them, they have jumped on the online bandwagon. This has spelt a death knell on the private online lotteries. The UK National Lottery or Lotto has an average sale of
The most common and popular form is Online Poker, where the players compete against fellow players, with the card room, making money in the form of match fees and "rake". Online casinos now offer traditional roulette, blackjack and baccarat thus giving the users the same ambience. Sports betting has been legalised in many countries, where bets are placed on the results as well as scores of the matches in advance. Government run lotteries generate huge tax cash flows, so in order to protect them, they have jumped on the online bandwagon. This has spelt a death knell on the private online lotteries. The UK National Lottery or Lotto has an average sale of