Ethical Analysis of Online Gambling Essays - 3811 Words

Ethical Analysis of Online Gambling Introduction Open up your email over a long weekend and you’ll likely find a plethora of online casino advertisements. â€Å"Welcome Bonus up to $150 free!† Ask the traditional land based casino gambler on whether he would gamble online and his first reaction would likely be â€Å"Are you nuts?† When gambling at land based casinos, games are likely to be fair because the consequences of cheating by casino operators are disastrous. Casinos found to offer rigged games will lose their gambling licenses permanently. Land based casino gamblers are also virtually guaranteed that any winnings they accumulate will be paid out. However, Internet casinos are generally unregulated and offer neither of these†¦show more content†¦Billions of dollars were spent on creating and maintaining gambling wonderlands such as the Bellagio and the Venetian. In contrast, creating a new online casino requires only licensing software from a casino software provider and maintaining the c asino network services. Bear Stearns, a New York investment banking company that tracks the online gambling industry, estimates online gambling generated revenues of $3.5 billion globally in 2002.2 In comparison, the Nevada Gaming Control Board reported estimated revenues of $9.45 billion for all Nevada casinos combined in the same year.3 Casino-on-Net, the largest online casino in the world, had revenues of about $200 million in 2002.4 Only a handful of Internet companies have higher revenues. For comparison, Ebay, which has become one of the most successful Internet companies, received annual revenues of $413.9 million the same period.5 Online gambling has become a legitimate and a powerful force in the gambling industry. Government Stance The legal status of online gambling in the United States isnt clear. According to U.S. Attorney General John Ascroft, the 1961 federal Wire Act prohibits casino games on the Internet.6 The Wire Act is a federal statute that prohibits gambling over telephone wires. The Wire Act makes it illegal for providers to offer or take bets from gamblers over phone linesShow MoreRelatedInternet Gambling1505 Words   |  7 PagesRunning head: CASE STUDY IV: INTERNET GAMBLING CASE STUDY IV: Internet Gambling May 6, 2006 This document will inform you about the history of internet gambling, the existing issues, and a number of concerns involved with online gambling. Prior to the launching of the World Wide Web in 1993 which changed the setting of gambling, people had to travel great distances to gamble. The world s first virtual online casino, Internet Casinos, Inc. (ICI) commenced operation on August 18, 1995Read MoreFinancial Screening Research : The Guidestone Investment Small Cap Equity Funds Essay758 Words   |  4 Pages(Prospectus, guidestone.com). 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Changes in the macro-environment today that could have effects on the Hotels, Casinos, and Resorts industry would be political things with the recent electionRead Morebear stearns3426 Words   |  14 Pagesand technology Bear Stearns Collapse 2007 A short analysis ISMAR HOTA Table of Contents Introduction 3 Literature Review 3 Methodology 4 Analysis 5 Introduction 5 About Bear Stearns 6 The Culture at Bear Stearns 6 The Collapse of Bear Sterns 7 The Ethical Issues behind the Bear Stearns Collapse 8 What are subprime mortgages and its Ethical Failures? 8 The Lack of Corporate Governance at Bear Sterns 9 Moral Hazard at Bear Stearns 10 Non Ethical Conduct of the Regulators 11 Conclusion 11 Work CitedRead MoreGeneral Reflections: Counseling is Practical3246 Words   |  13 PagesAbstract The essay is an analysis and description of my journey of being a professional counselor within the background of counseling practices, expectations, and counseling methodologies that have helped me along the way. I describe my practicum experiences; general reflections on the practicum experience; I talk about Counseling and the concept of Social constructionism; Counseling and Self-awareness; the importance of Active Listening; the necessity for adherence to Counseling Ethics; and myRead MoreRacism And Ethnic Discrimination : A Public Health Measures That Can Mitigate Health Inequities Essay1628 Words   |  7 Pagesreviewing numerous media discourses on Maori issues have shown recurrent patterns and themes of racism in the New Zealand media (McCreanor 2008; Nairn McCreanor 1991). Ascertaining these patterns and themes is important, as it provides as index for analysis and interpretation of media information, and could serve as a useful tool for individuals and organizations inte nding to confront and change the unacceptable status quo (Barnes et al 2012). Some of the identified patterns and themes in Pakeha discoursesRead MoreBusiness Ethics Analysis Essay4857 Words   |  20 Pagesto apply certain ethical standards. There has been conflict between the company, the local community, and non-government organizations (NGOs). The conflicts arose because of evidence of environmental destruction and community harassment by Newmont Nusa Tenggara. This case study is comprised of 3 parts: case presentation and stakeholder analysis; ethical audit; and policy recommendation. Firstly, the facts of NNT’s operations will be analyzed, research based on the ethical literature willRead Moreâ€Å"Privacy and Spamming Ethical Issue in E-Marketing†6216 Words   |  25 Pagesâ€Å"PRIVACY AND SPAMMING ETHICAL ISSUE IN E-MARKETING† ABSTRACT It is contended that we are all living in a transitional economy and given the implications of globalization and information technologies for business and commerce, no economic system displays stability. The Internet poses fundamental challenges to the issues central to society, namely free speech, privacy and national sovereignty. With the advent of e-marketing, it brings with it a host of ethical issues surrounding customer privacy