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Online Casino Gambling is Not a Fad

Is online gambling a fad, or is it something much more? You have a lot of people out there saying that online casino gambling will only be around for so long, and is doomed to extinction like all fads are. They charge that online gambling is more harmful than good, and that online casinos are splitting up families and ruining lives and that by the time the fad ends the cost to customers will be more than what has been won. Are the facts supportive of the charges, or are the critical people just crying wolf because they are intent on creating an environment where the failure of the online casino industry is unavoidable or inevitable?

It is probably the latter, because online casino companies are simply businesses which provide a service to those who want it – and considering that some form of gambling is legal in all but a minority of countries around the world, it isn’t as if online casinos are the “women of the night” of the online gaming industry or the world wide web in general. They have done quite well for themselves, and it is a measure of their success that they have done as well as they have, even going public on the stock market of England.

And yet the critics have set their sights on online casino companies because while normally the same critics would allow other forms of gambling, it is harder to regulate online gambling and sometimes difficult to collect taxes. Perhaps, though, it is more that online casino companies are the targets of those who shun the internet’s capabilities for money-making in general, or even that the critics are jealous of the success of people who might have been working out of their apartments once but now have gigantic, spacious offices in the best parts of many cities in the world. In any case, online casino gambling is no fad, it isn’t going away any time soon, and the critics should simple accept it.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.