Gambling Industry Growth Bets the World
Online gambling is big business, with estimates of 23 million people placing wagers last year. Revenues are expected to hit $48 billion next year and $177 billion by 2015. The Web sites are located in foreign countries where they're legal, thus making it more difficult to enforce U.S. laws that prohibit online gambling.
There seem to be many gray areas, though it's more black-and-white in our state because violators are now subject to a Class C felony should they be caught gambling online, which is completely ridiculous. To sucker us out of even more cash, sports books came up with proposition bets, which are seen most prominently in the Super Bowl, who will win the coin flip, score the first touchdown and you name it from there.
These things multiply and get wackier every year, allowing you to bet on natural disasters, hurricanes, professional sports drafts, etc. You can bet on pretty much anything that is fair game.