Internet gambling represents one of the fastest growing segments of online activities with hundreds of websites providing users the opportunity to place bets on anything, ranging from casino games to sporting events. Billions of dollars in bets are placed each day in these online gambling rings. Thousands of these sites exist and many countries' economies benefit from them. Sadly, America's leaders fail to see the benefits in allowing online gambling to take place on American soil.
Whether it be for recreation or as their only source of income, hundreds of thousands of Americans participate in the phenomenon known as online gambling. For the countries (Great Britain, France, and a number of islands in the Caribbean) that host these sites, it means millions of dollars being taxed each year for allowing the gambling sites to exist. President Bush signed into effect in mid-October a bill that outlaws sending credit card payments or other funds to websites involved with online gambling. Consequently, many of the stocks of these corporations are bound to decrease severely, potentially hurting the nations' economy.
A countless number of college students across America participate in online gambling, a small percentage of those depending solely on the money they make from gambling to pay for their tuition. This new law will leave these people scrambling to find jobs to stay in school. If the job search fails, these students will be forced to go deep into debt by taking out loans or drop out of college altogether, thereby making the United States lose valuable money that these students are paying for their education.
Putting internet poker aside for now, online sports wagering has been around for as long as anyone can remember. Before the new bill passed, a person could sign onto a gambling site, enter their handle and password, and have unlimited access to hundreds of betting lines, point spreads, and over/under numbers. One more...