Essay On Online Gambling

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The growing importance of the internet in society is an undeniable fact. Internet access is growing worldwide, and the Internet is becoming extremely popular for communication with the rise in social networking. Within this framework, electronic commerce, including online gambling, has experienced a rising participation rate. In particular, internet gambling had an unprecedented worldwide expansion in recent years, offering to gamblers the possibility to play 24 hours a day, 7 days a week, even from their own homes, working places, or public spaces.
The remote gaming industry is a very profitable e-commerce industry today. It offers a wide range of products, including sports betting, casino games, bingo, lotto games, blackjack, and poker through more than 400 companies within the whole world. In 2003, the online gambling market worldwide had began to make a remarkable affect and was approximately estimated at €6.6bn. This had grown to €18.2bn in 2009 and in 2012 it reached a market growth value of €21.7bn. By 2015, it is expected that there will be a growth of 30% of the online gambling market, to reach a market value of €28.24bn, where it is anticipated to generate a gross win of €28.24bn. Ten years ago the remote gaming sector worldwide generated a gross win of €6.62bn. The online gambling in 2012 accounted to only 8% of the global gaming revenue. However, as consumer habits are changing and as smart phones and tablets are getting more and more popular, there will be a significant increase in the proportion of the total gambling market.
Currently there are about 2,100 web sites where online gambling takes place, with most of the remote gaming operators are located in Malta, Gibraltar, Finland, United Kingdom, Isle of Man, A...

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...s books. Therefore, this is one of the biggest challenges that remote gaming providers faces on a daily basis. Gambling products need to be as easily accessible, attractive and inexpensive as the products provided by competitors.
The remote gaming industry generates huge amount of revenue and exists harsh competition between countries to attract as much as possible gaming providers. In order to accomplish their goal to encourage both suppliers and consumers to sell and buy gambling services mainly via the internet sites which they regulate and authorise, various governments are making it more appealing to suppliers and consumers to operate and pay taxes and fees and taxes, within their jurisdictions, rather than going abroad.
Thus these benefits highlighted the importance why GVCNew understands the challenges it faces in today's dynamic and turbulent environment.

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