The Impact of Terrorism on Online Casino Gambling
The online gambling industry receives approximately 60% of its wages from the gamblers from the U.S. As a result of this fact each time an incident occurs that affects the lives of the Americans it automatically has a huge impact on the online gambling industry. A number of issues need to be dealt with since they have turned into a serious problem: terrorism, foul play and rules not efficient enough. A General Accounting Office conference was organized to discuss this issue with Michael Tew from Bear, Stearns & Co; and some very troubling matters concerning online gambling were argued. Tew pointed out that online gambling is on the verge of lacking any regulations whatsoever as a result of different influences regarding the online casino gambling in various countries.
For instance, the operators of the online gambling sites in the Caribbean are mainly anonymous and hardly anyone controls them. Land-based casinos on the other hand have their set of rules and regulations defined for them, Nevada sets a good example of how casino regulations really supposed to work. The U.S. Justice Department is having trouble preventing all the problems. They are not capable of using all their power to control the situation.
An additional very important aspect that Mr. Tew mentioned in his argument is our lack of knowledge regarding the people who actually receive the money through online casino gambling. We have no awareness of who earns the money and what is the origin of that money. The discussion had some significant outcomes. People became more aware of online gambling casinos, since now they are afraid of coming in contact with something illegal, a criminal or even a terrorist. It’s close to impossible to manage all the illegitimate activity on the Internet, since the field is just too big, particularly when internet cash comes into the picture. Nevertheless, it is close to unattainable to filter money through online credit card operations.