Case Study: Valve Statement On Gambling Sites

Gambling is becoming increasingly popular in today’s society. Major casinos and online gambling sites attract

Finically this can destroys lives, result in depression, suicided fatal to those who cannot or refuse to find help due to lack of services in local area, also un-responsible people who serve in gambling areas, or events who neglect to follow procedures or polices on offering help or information where to find it can lead to distress families, as before other health related issues such alcohol, drug abuse lead to physical abuse from lending money, this all down to RESPONSIBLE SERICE OF GAMBLING, we all must follow our training, keep up to date on procedures and new laws and

Economic The Australian gambling market is remarkable in the world’s gambling industry. It has already been mature and showed a very strong growing momentum with 2.9% annually over the last five years, and it was predicted that the growth rate would be constant in a medium-term period. (Sudarsanam, 2011)There are four categories of gambling activities. Gaming is the largest type with the annual turnover over $10.2b, and other three types are Casino, wagering and lotteries, and the annual turnover was $3.2b, $2.6b and $2.1b respectively. (Sudarsanam, 2011)

According to the Federal Reserve, this act “...prohibits any person, including a business, engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling” (31 USC 5361-5366). DraftKings and FanDuel are considered gambling websites because the game that they offer are of chance. The act does exclude season-long leagues, but daily leagues are not excluded. One reason this act was passed was to keep companies from taking all of revenue after payouts. DraftKings and FanDuel should not be able to operate because of the Unlawful Internet Gambling Enforcement Act of

Today, it is FanDuel and DraftKings who take advantage of the slow moving government and the unregulated system of daily fantasy sports. In an interview with Matt King, CFO of FanDuel, Walt Bogdanich, investigative journalist, states, “So you don't view what you do here at FanDuel as gambling,” and instantaneously King disagreed by saying, “No … Every time that you talk to our users, what comes through loud and clear is the fact that we're an entertainment product (The Fantasy Sports Gamble).” Basically, Bogdanich asks if King thinks FanDuel is gambling and he spontaneously disagrees that their product was just for the purpose of entertainment. Bogdanich goes on to ask if King believes that their product should be regulated, but King avoids answering with yes or no by saying that their product is all about entertainment value. Don’t get me wrong here, I don’t want to sound like someone who despises fantasy sports, but I just hate the fact that he’s only saying things that his lawyer allowed to him to

Instead, it made it a federal offense, punishable up to five years, for financial institutions to process payments for companies operating in “unlawful Internet gambling.” Sports gambling operations are the only businesses specifically mentioned as “unlawful Internet gambling” within the UIGEA. Otherwise, the rest is left to wide interpretation. Under the UIGEA, games of chance are considered “unlawful gambling,” but no specific games were cited. There certainly is a valid argument to be made for prohibiting games of chance over the Internet, but the authors of this bill ruined their credibility by appeasing state lottery lobbyists. Yes, lotteries received an exemption from the UIGEA even though they are completely subject to chance. Likewise, lobbyists corralled exemptions for fantasy sports, dog racing, and horse

Back in 1996, the explosion of online casino gambling swept the world. The United States had been a large part of this, and many gamblers had turned to online casinos for all of their gaming. For many years, these casinos continued to be played unabated. Unfortunately, back in 2006, legislation was passed that made it slightly difficult for online casinos to continue to operate. This legislation, sneaked in by piggyback through the Safe Port Act, would be named the Unlawful Internet Gambling Enforcement Act, and it became a thorn in the side of the online gambler, the online casino, and all payment processors there in.

The vast majority of people playing poker online do so infrequently and for low stakes. In fact, many of these online poker players could spend more money at a restaurant or the movies. For instance, Ingo Fiedler of the University of Hamburg conducted the most comprehensive study of online poker and found that the average player wagers rather insignificant stakes. Fiedler analyzed an online poker database with 2,127,887 player identities at five different major poker sites over a six month period. The median player only played 7 times over a six month period for a total of 4.87 hours. The stakes were so low that the majority of players only averaged $0.87 an hour in rake, the house’s commission.

From the backyard betting between friends to a multi-billion dollar a year industry daily fantasy sports has exploded over the past decade. Millions of people enjoy playing fantasy sports every year. Daily fantasy sports is one of the most effective ways of bringing fans closer to the sports they love; well others use it to make big money. Comedian Jon Oliver Jokes, “Daily fantasy sports combine everything dudes love: sports, money, and a lack of commitment” (Oliver). Many people, like myself, had never heard of fantasy sports until just a few months ago. When sites like FanDuels and DraftKings began getting worldwide media attention, claiming these sites could be considered gambling. In response, lawmakers have been falling over themselves to try and put a leash on this industry. However, lawmakers are having trouble deciding if daily fantasy sports constitute as gambling, or if they are just a skills based game. Many still don’t know what know what daily fantasy sports are or how they are played.

When considering the proliferation of gambling advertising it is important to compare the gambling environment established before deregulation and the extent to which it has changed post deregulation. The problems affiliated with gambling are not a new phenomenon, as such considerable research has been done to mitigate and control the derived negatives (Eadington, 2012). Applying age restrictions, promoting easily accessible helplines for those with a problem, self-exclusion programs and limiting access to gambling have met with success and led credence to the belief that gambling is no longer “a focus for criminal activity or a form of glamorous extravagance” (Delfabbro, 2011). However since the sudden deregulation of gambling, advertising

In the year 2011 Canadian Ontario gaming company decided to help GAMBLERS HOTHEADS addicts to resist the temptations of betting on a continuous basis, through the comparison of digital discrimination system, facial and used by the Center for gambling with video records that operate throughout the day with the faces of the attendees at the gambling tables using a database of persons who have been barred from gambling or the issuance of an order determining the amounts to gamble, if the program conforms to this person and he issued a warning to members of the Security Council to deal with those and watched well or discharged more discretion and without drawing attention.

Winner Casino scam reports are virtually inexistent in the world of iGaming. This is due to the fact that the platform urged to provide betting communities and interested parties with unparalleled gaming services. Its prolonged establishment in the industry is one giveaway of its dependability and

From commercial casinos to lottery tickets to off-track betting, it is easier to gamble today than ever before. While the government promotes the gambling industry to supplement tax revenues, it has not allocated

Political and legal factors are those controlled by ‘governments, local authorities, or other trade or activity orientated regulatory bodies' (Brassington and Pettitt, 2000). Gambling legislation is put in place in order to prevent consumers been taken advantage and also help control consumers with gambling problems. The internet is open to great abuse in all areas of the internet and gambling is no exception. Within five minutes it is possible to be gambling on the internet at as high stakes as one desires, this obviously has its dangers. Companies have recently been pushed to be more responsible for caring for their customers. Some of the companies now have a system which its customers can use. The system offers the customer control of how much they can deposit in a designated time period, this helps the customers control their spending. Though this may affect profits for a company, it gives the impression that they care for their customers, which promotes their company. The laws for online gambling are reasonably relaxed and with it been a worldwide market that anyone from any country can access it is hard to control such a market. There have been recent worries about illegal gambling carried out on Betfair with trainers and owners regarding the running of a horse to lose. Many bets would be taken on the specific horse resulting

Most of us have heard of fantasy football. Online fantasy has risen in popularity over the past couple of years, due to advances in technology. With this rise in popularity, it has raised eyebrows at the state and federal government levels. There are many grey areas when it comes to gambling online, that many people still don’t understand. Many questions are being asked, such as legal transactions with credit cards, is online gambling causing a problem with a rise in gambling addiction? Over the course of this report, I will go over the good and the bad of making online gambling legal and regulated.