Online casino is the act of conducting a monetary transaction, akin to that of traditional gambling using 3rd party resources. But online gambling has two main benefits:
- The gambling is often based on legal platforms that host these bets, sometimes even getting government sponsorship, to promote safe betting and/or online gambling.
- Online gambling doesn’t include physical resources like middlemen, who often take their take, or in technical terms, their commission, from the gambling earnings a person has made, as a means of facilitating the transaction. Online gambling platforms do not need middlemen and substitute it with software that makes the calculations and do not include commission cuts in the final earning.
The subtle presence of the platform:
But the rise of online gambling did not come without its fair share of problems and equally valid criticisms. A few problems, and a few points made were:
- The inclusivity was highly praised in spite of long-timers viewing the act as a defiling move, but it also meant that it could potentially serve to addict a larger number of people, who were not making real progress, but getting sucked into a deeper quicksand of online debt and real-world misery.
- Both industry leaders, as well as the online marketplaces, saw the move as a genuine move to a gambling space that would allow a lot more people to genuinely earn money to spend on actual needs, and not frivolous items. But this was not the case, as observed. The online marketplace, like amazon and other retailers/wholesalers, saw a huge influx of money, right when the online casino boom started. This meant that the gambling boom was met with an equally huge online retail boom, which was fueled with market speculation regarding the growth of the ‘online marketplace’.
To conclude, what is the inference that can be drawn from the situation? With the recent surge of the internet marketplace, there has been much less speculation, and people are more confident about investing money or even engaging in online gambling. There has been an exponential rise in the advertisements that promote online gambling. There have been occurrences where people have earned genuine money from genuine sources, and have gone on to do good for the community. With the revival of the online retail marketplace and online communication hubs, including social media sites, there has been a rise of a genuine community that is dedicated to earning a living from online gambling. The provision of online gambling sites has reduced addiction to a large extent.