TABLE OF CONTENTS Todd G. Shipley
Gambling is going to be another way to play on the Internet. It's a huge business in Las Vegas, Reno, and Atlantic City, and it nearly supports Monaco. The casinos make enormous profits because gamblers continue to believe that even though the odds are against them they're going to win. (Gates 1996)
One of the earliest Internet gambling sites was Internet Casinos, Inc. (ICI), established by Warren B. Eugene on the Turks and Caicos Islands in 1995. Since that time, online gambling has spread like a weed, with profits growing exponentially, reaching an estimated two billion dollars in 2001, roughly 2% of the total worldwide gambling industry. [1] For a relatively small investment, online gambling vendors have been able to multiply their profits quickly. Companies are even offering to implement and manage the necessary online infrastructure, making it easier for investors to enter into this market. Caribbean countries with little in the way of economic development have embraced Internet gambling as a means to a quick US dollar with minimal government investment. Gambling licenses can be bought from locations in the Caribbean with little or no government supervision. Money talks in a multibillion-dollar industry that has no uniform oversight. [2]
The Caribbean became the early favorite of online gambling sites in part because traditional bookies had already moved there to get out of the reach of United States law enforcement. It was only natural that when the Internet exploded, online sports betting, and then...
