Online gambling is one of the rising industries in the world that keep growing its empire and procuring billions of money in the global market. India is not lagging behind either. Its gambling empire is sprawling gradually and is valued to be the priciest (930 million usd) in the world; for India consist of the largest number of internet users (560 million, approx.). The figures and growth seem appealing but it is imperative to understand the very core.
What is online gambling?
Online gambling is the process of gambling using internet. Here, consumers gamble and bet using their money only from the comfort of their own homes. Therefore, if you are looking for a classy and jazzy interior of a casino, this is not for you. However, it is gaining popularity due to its convenience response and easy availability. Thereby, malaysia online casino becoming preferred choices over land gambling sites.
Types of online gambling:
There are variations produced each day, but basically there are three–
- Online poker- One of the most popular games. It allows one to utilize real money by depositing them on the website’s account and can easily retrieve the amount that one has won. It has its own varieties as well that depends on their availability in the online site.
- Online casino- Another type of internet gambling that comes with many varieties. Often developers add features that would make the player’s experience all the more exciting. Many online sites have the option of live dealing and interacting with other opponents as well.
- Sports betting- It is the game of predicting the result of a particular sport. On betting, one win’s money when right and loses money on being incorrect. Again you can withdraw the money that you have won.
Countries and legalization
There are countries who have legalized the practice of online gambling while many have banned it. Various European countries have mandated licensed use of internet gambling, while usa gambling empire is growing with heaps and bound. Among the Asian countries, japan is one of the countries that have legalized while India has limited its allowance only to two states -Sikkim and goa.
Online gambling hazards
- Excessive gambling turns one into habitual gamblers.
- Risk of losing money to scams.
- Unregulated websites can be easily accessed by children.
- One suffers from isolation.
- Psychological illusion of attaining easy money.