Gambling that makes use of the Internet is known as Internet gambling. Its rising popularity is stealing a lot of productive time of those addicted to it. Youngsters, unaware of the long-term effects of this addiction, end up losing a lot of energy and money on it, and may develop health disorders. Increase in the number of online casinos, rise in the popularity of games like online poker and bingo, and a steady increase in the number of children and teenagers getting addicted to it, does not paint a very good picture of the future of Internet use. It's high time we realize the impact online gambling can have on us, and take steps towards curbing its popularity.
Excessive exposure to online gambling websites leads to addiction. Gambling is betting money and running the risk of losing it. This can lead to heavy financial losses, and even bankruptcy. Recurrent losses can lead to frustration. Repeated failures can breed feelings of inferiority, and in extreme cases, one may even lose interest in living.
In the recent years, there has been a tremendous rise in the number of children and youngsters taking part in Internet gambling. These websites target youngsters, as it is easier to lure them with free gifts and discounts. Surveys have revealed that children and youngsters are the most affected and the easiest prey to offers.
Mostly, no government authority regulates online gambling. Lack of central regulation gives rise to the spread of illegal practices and an unfair use of resources. Unregulated gambling practices may result in unwarranted expenditure of money and sheer waste of time.
Moreover, unregulated gambling provides network hackers with opportunities to gain easy access to the confidential information of web users. Internet gambling involves online fund transfers requiring the exchange of credit card details over the Internet. Hackers can easily access such user details and breach information security.
Pathological gambling disorder has symptoms similar to addiction. It describes a state wherein gambling-related behavior of a person hampers his/her personal and social life. Those with this disorder are always preoccupied with the thoughts of gambling. They feel the need to gamble with big amounts of money. They tend to risk huge amounts and are unable to resist the temptation to do so.
The biggest disadvantage of Internet gambling is the waste of valuable time and money of the individual involved. Valuable resources that can rather be invested in constructive activities, are wasted in baits and bets.