a.k.a. digital gambling, Internet gambling, net gambling, online casino, online lottery, online poker, online sports betting, advance-deposit wagering, ADW, in-play gambling, mobile gambling
Online gambling refers to using the Internet to wager something of value, usually money, on the outcome of a game or event. Online gambling has become one of the most popular and lucrative businesses present on the net, and it's a lot of fun for millions of people. Online gambling can take many forms, including:
- Online casinos - People play roulette, blackjack, pachinko, baccarat and others against the "house" which makes money because the odds are in its favor.
- Online lotteries - Most are run by governments and are heavily protected from competition due to their ability to generate large taxable cash flows.
- Online poker - Tables commonly offer Texas hold 'em, Omaha, Seven-card stud, razz, HORSE and others in tournaments and cash games; players play against each other rather than the "house", with the card room making its money through "rake" and tournament fees.
- Online sports betting - Predicting sports results and placing a wager on the outcome.
- Advance-deposit wagering - ADW is a form of gambling on the outcome of horse races in which the bettor must fund his or her account before being allowed to place bets.
- In-play gambling - Allows the user to bet while the event is in progress.
- Mobile gambling - Playing games of chance or skill for money by using a remote device such as a smart phone, mobile phone, or tablet with a wireless Internet connection.
The money for online gambling can come from credit card, electronic check, certified check, money order, wire transfer, or Bitcoin.
Historical perspective:Internet gambling increased from 15 websites in 1996, to 200 websites in 1997. In 1998 online poker rooms were introduced and online gambling revenues exceeded $830 million. Multiplayer online gambling was introduced in 1999 marking the first year people could gamble, chat and interact with each other in an interactive online environment. By 2001, the number of people who participated in online gambling rose to 8 million and by 2008, online gambling revenue was $21 billion. In 2015, worldwide gross win of the gambling market reached approximately $400 billion with more than a third coming from online casinos.
NetLingo Classification: Online Business