Have you seen those ads for websites that offer such games as Texas Hold em, online poker, virtual slots, etc.? Have you been tempted to lay down a buck and take your chances? Before you do, theres something you should know. Running an Internet gambling website is, for the most part, illegal in the United States.
However, despite the legal status of these websites, many Americans are visiting them everyday, wagering enormous amounts of money. But many questions arise from the use of these sites. Are they safe? Are they fair?
One of the biggest questions in regard to Internet gambling is how can these sites continue taking in (and, presumably, paying out) money if they are not legal to operate in the U.S.? Actually, this is not a problem for most companies; they simply establish an offshore company, usually based in a Central American or Caribbean country, and conduct their business from these friendly locales. The countries that cater to them benefit enormously from this business arrangement, as they collect taxes, fees, and peripheral revenue from the companies operating within their borders. This is no small amount of money, as the taxes on the...
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