Online gambling strategic recommendation Essay

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Category: Gambling

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With the increasing number of people who use the internet, email, online banking, and other computer-related technologies, it was just a matter of time until we would see internet gambling becoming popular. The first internet gambling sites started appearing as early as 1994. Some of the earlier operators included The Gaming Club, and Intertops Online Casino and Sportsbook. Few years later, new online casinos started popping up almost daily, around year 2005. There were more than 2500 sites that offered some form of online gambling.

Today there are many brand name online casinos; some of them are one of the most profitable companys worldwide (GamblingInfo, 2000). According to National Gambling Impact Study Commission Final Report, research consultant Sebastian Sinclair of Christian Cummings Associates, Inc. , estimated that internet gambling more than doubled from 1997 to 1998, from 6. 9 million players generating $300 million in revenues to 14. 5 million players generating $651 million. Online casino business is the fastest growing business in the world at the moment.

When online gambling first came about in the late 1990s/early 2000s, it exploded on the scene with revenue charts in which the arrows were almost vertical. Even with todays world-wide economic crises, those arrows continue their upward climb. Everybody was either gambling or opening up an online gambling site themselves. When the recession started to hit, many people in the online gambling industry were fearful that it would hit online casinos hard because gambling was not essential to living like food or homes were, but the projections coming in for 2008 showed a different story.

What it showed was online gambling is much more resilient than people previously thought(GamblingInfo, 2000). The Internet has made way for new types of gambling to form online. The recent improvements in technology have once again changed betting habits just as Video Lottery Terminal, keno, and Scratch cards changed the gambling industry in the early 20th century. Internet gambling has become one of the most popular and lucrative business present on the Internet (Wikipedia, 2012).

Online gambling allows gamers the opportunity to play all the same casino games that individuals would find in any land-based casino from the comfort of their homes. Gamers have the ability to download online casinos software to your computer or players also have the ability to play casino games directly on the casino site without any download through an interactive online casino where there is interaction with the dealer and other players who may be playing at your table. Online gambling is an activity that adults enjoy and it does no conceivable harm to anybody else. There are strong arguments against legalizing online gambling.

First argument claims that online gambling further confuses the issue of legality. The argument is that online gambling blurs the line even further between legal and illegal gambling. As confusion reigns from state to state when it comes to gambling, 48 states have some form of legalized gambling”including lotteries, race tracks and casino games, but there is little consistency that exists in gambling laws. Second argument claims that online gambling breeds addiction. This argument states that online gambling opens a giant can of worms in that it gives gambling access to millions of people who otherwise would not have access.

One of the logical conclusions in this argument is by having more gamblers means having more gambling addicts. Third argument claims that online gambling promotes fraud and cheating. The basis of this argument is critics claim that online gambling sites have already become a haven for hackers and con men. Most internet gamblers purchase credit online through the use of their credit cards, therefore, skilled hackers would have mountains of credit card numbers to illegally charge to. Fourth and final argument claims that online gambling makes cheating easier.

The basis of this argument is while cheating obviously constitutes a breach in ethics, it also can cost casinos millions. Casinos have thousands of cameras to monitor cheating onsite; however, it is almost impossible to monitor a player as they place bets out of their homes (Online Gambling, 1999). Personally, people are going to gamble no matter what the government says. Gambling has been a part of human nature for thousands of years. Prohibition didnt work. Look at how effective other prohibitions have been; therefore, I feel that online gambling should be legalized.

My first argument for legalizing online gambling starts with, it would turn online gambling into a legitimate industry. Instead of gambling at offshore sites where citizens have little recourse if there is a dispute, legalized online gambling would open US companies to the business (CasinoFYI. com, 2000). My second argument is by legalizing online gambling, it would generate a lot of tax revenue. US citizens are already gambling online, but right now the state sees no tax revenue. If people are doing it already, might as well regulate it and get the tax revenue (CasinoFYI. com, 2000).

My third argument for legalizing online gambling is it would create a safer environment for children and problem gamblers. My basis for this argument is in most scenarios, online gambling legislation would include security measures that casinos sites must take to prevent minors and problem gamblers from accessing the online games (CasinoFYI. com, 2000). On the issue whether to legalizing or not to legalizing online gambling, there poses some ethical and moral questions in my mind. Fraud is highly possible in online gambling; therefore, can the online gambler be assured that the games being played are legitimate and payoff guaranteed?

Gambling addiction is an ethical issue as well as a moral issue in online gambling. The questions are Does the gambling addict find anything humanly fulfilling in gambling? and Why do some individuals become addicts and others dont? The last questions, and it stirs heat debates for centuries to come, Is gambling right or wrong? and Does gambling condemn one to fire and damnation? As Internet use spreads across the globe, online gaming business will continue to be one of the most profitable business opportunities of the 21st century and beyond. To be competitive in this business I make the following recommendations.

Get to know the target market, trends, location, gender, users habits, wants and dislikes involving online gambling. Pros in doing this is it will help to become better aware of other online gambling site strategies and help in the success of this business. Next, hire a reputable marketing company in the marketing field of online gambling. The pro in doing this is that it can shed light on the exact online gambling situations and point you in a better direction. The cons to this effort are with the people hired to help put online gambling site on top not being knowledgeable about the online gambling business.

If they are not knowledgeable about what they are doing and not gathering the right data, they will be leading me down the wrong path. Next, have a technical staff or a development company to handle any problems that might be encountered while the site is online, make updates needed for the website, programming requirements, and knockout designs for the online gambling website to give it that look and feel that would set it apart from competition. The pros are with a highly knowledgeable technical staff/development company will keep the online gambling site running smoothly; will keep the online site at the top of its game.

The cons are if everything is not working properly, there is a bigger chance of no visitors to the site because individuals will have various issues within the site. I would hire bookies or bookmakers who would know about bookmaking to set updates and prepare events, lines and odds on the sports book, casino, betting exchange or poker website (Charles, 2009). The pros are the site will be ready for any and all types of online betting. The con is hiring someone with illegal affiliations.

My next recommendations is making sure there is the state-of-the-art quality robust and scalable casino software and multi-player poker software; have outstanding casino games which can be played instantly on the internet without having to download; have all the monetary transactions accesses available including customer deposits and withdrawals; and make sure the staff is well-trained on the use of casino and poker gaming software. The pros to these recommendations are with site being state-of-the-art, it will be more appealing and if more appealing more people will visit the site and play.

The con here is if the software is below par, individuals not having funds accessible to them in order play, the staff not keeping the software up and current, then customers will go elsewhere. The other con is the games could be boring, not exciting. Finally recommendation is to have licensing consultations making sure that online gaming activities are being conducted in legal jurisdictions. Pro is the licensing consultant will make sure that everything is on the up and up, and the online gambling sites are not running in jurisdictions they are not supposed to.

The con is if it is not operating in legal jurisdictions, the site can be shut down. In conclusions, online gambling has its positives as well as its negatives; for example, addiction, lack of regulation, and such issues such as privacy breaching. However, online gambling is a growing technological industry that receives more and more customers every day. As online gambling is a rather simple form of gambling to engage in, the positive outcomes such as large profits and increased number of female gamblers, are now reeling in more gamblers of all ages and sexes.

For most people, the advantages of playing at online gambling sites outweigh the disadvantages. Online gambling seems to be here to stay, and online casinos are sure to start growing like crazy again as soon as the law that limits funding of foreign accounts is lifted. Even though there are still some disadvantages to gambling online, the advantages are far more numerous. The never-ending debate on whether or not online gambling should be permitted will continue for many years to come, and for that reason, with an efficient method of regulating the online gambling industry, it should be legalized.

References: Bridger, E. C. , Gozda, B., and Hanna, A. (2008). The Legalization of Online Gambling. University of Calgary. Retrieved on June 15, 2012 from http://wiki. ucalgary. ca/page/Online_Gambling Casino FYI. com (2010). Should Online Gambling Be Legalized? Retrieved on June 15, 2012 from http://www. casinofyi. com/wsj-should-online-gambling-be-legalized/ Chaffee, J. (2012). Thinking Critically: Tenth Edition. Boston, MA: Wadsworth Charles, C. (2009).

Tools You Need When Starting Your Own Gambling Website. Retrieved on June 27, 2012 from http://ezinearticles. com/? Tools-You-Need-When-Starting-Your-Own-Gambling-Website&id=3492879 Elite Gaming Software (2012).

How to Start Your Own Online Casino and Multi-Player Online Gaming Business in 2012. Retrieved on June 27, 2012 from http://www. casinoseller. com/ GamblingInfo. com (2000). Introduction to Online Gambling Business. Retrieved on June 21, 2012 from http://www. gamblinginfo. com/9_Introduction. htm Harrigan, S. (2005). Pros and Cons of Gambling Online. Retrieved on June 27, 2012 from http://www. choosinganonlinecasino. com/the-pros-and-cons-of-gambling-online. php Little, A. D. (2009). Online Gambling: All In? Retrieved on June 25, 2012 from http://www. adlittle. com/downloads/tx_adlreports/ADL_OG_01.

pdf Little, M. (2011). Gambling Addiction and Ethical Issues. Retrieved on June 15, 2012 from http://www. livestrong. com/article/149406-gambling-addiction-ethical-issues/ Madan, T. (2008). Ethical Issues in Online Gambling. Retrieved on June 24, 2012 from http://buad840. blogspot. com/2008/04/ethical-issues-in-online-gambling. html Online Gambling (1999). The Ethical Dilemma. University of North Carolina Education. Retrieved on June 24, 2012 from http://www. unc. edu/~jsugar/gambling. html Wikipedia (2012). Online Gambling. Retrieved on June 15, 2012 from http://en. wikipedia. org/wiki/Online_gambling.

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