Online betting is any type of betting conducted over the internet, generally with live action. This includes sporting events, casinos and virtual poker. The first online betting venue opened to the public, was online ticketing for the first world-renowned international lottery game, the Lotto Max International Poker Tournament, in October 1994. With the growth of the internet and associated technology, online betting is now largely carried out through online gambling sites. The development of online gaming platforms and the technology involved has resulted in the online betting scene being one of the most lucrative in the world today. As online betting continues to grow in popularity, more people are turning to this form of gambling as a way to generate revenue.
While previous methods of online gambling involved bookmakers, bookies or sports book operators controlling the money supply; online gambling and the growth of online gaming sites have created remote gambling opportunities which do not have bookmakers or sports book operators controlling the money supply. Remote gambling is based on the concept that a person is wagering an amount of money that cannot be directly controlled. For instance, someone may be wagering an amount of money on a horse race while watching the race from their living room; and while they may not have control over the actual horses or the race track themselves, they can still control how much they are wagering. However, since this involves third party control, remote gambling, also known as Internet gambling, is considered illegal in many jurisdictions. This is because in some jurisdictions online gaming is viewed as a form of fraud or advertising, which may lead to the cessation of legitimate online gambling. However, Internet gambling is becoming more widely accepted and more accessible to players, and for many players this is a welcome change.
This main article serves as a general overview of online gambling, focusing on the legal aspect of the industry. It does not necessarily reflect the legal aspects of offshore gambling, including which countries will permit it and which ones ban it. Be sure to consult a lawyer or gambling lawyer before making any decisions regarding your online gambling activities. That way you can be sure to fully understand all the implications before you begin. Happy gaming!