A quick search on internet about ‘Online gambling’ generates about 17, 30, 00,000 results! The giant size of the figure speaks loads about the popularity of online gambling.
Online gambling lets people bet on sports as well as let them play games like casino, poker, bingo and much more. The concept isn’t something new. The first online casino dates came out as early as 1994! With technological innovation, the world has seen great progress in e-commerce, which in turn has led to the growth of online gambling all across the world. Globally, the market size of online gambling was about 48.52 billion USD in 2018 which is estimated to grow up to a whopping 102.97 billion USD by 2025.
Gone are the days when the concept of gambling was a taboo. Now-a-days, it is legal to gamble online. So far about 60 countries have legalized and regulated the process of gambling online. Besides generating revenue for the economy, countries have experienced other benefits of legalizing online gambling. These include their ability to regulate judi casino online terpercaya thereby protecting consumer’s interests, keeping the process crime-free and retaining sports integrity.
Online Gambling: The Process
In order to test their chance of winning, gamblers first put some money at stake, called as the bet. When someone places a bet, they receive their odds of winning. The lesser the odds of winning the bet, the more money the gambler makes. There is also the concept of payout ratio which a gambling company lures and retains its users with. The payout ratio is the average money made by a consumer for every 100 bucks he spends on the game.
Types of Stakes:
Consumers have a variety of options to put their stake on. Sports betting by far is the most popular type of gambling. Online gambling companies offer betting opportunities on all types of sports. Betting options are also varied within the sport. For example, in cricket one can bet on the outcome of a match or on the number of runs that a team may score or even the number of sixes that can be hit by a team or a player. Further, the bets can be placed before a sporting event or during a live match.
The options available in casino type online gambling include games like roulette, slots and Black jack. Consumers can also play poker online. Judi casino online terpercaya is a very well known online gambling platform.
Due to their virtual nature, online gambling faces the problem of credibility and acceptance. Players find it difficult to verify the authenticity of gambling sites they are putting their money in. Furthermore,recently there are reports of crypto currency being used in online gambling and the process itself being used for money laundering. However, many people are shifting towards online gambling as they have started to notice the advantages it brings to the gamblers.
Legalizing online gambling and regulating protects consumer rights and prove them to be a clean source of entertainment in times to come.