Ever since the dot.com bubble burst, enterprising entrepreneurs and opportunists have been looking for a new way to become millionaires overnight. The stock market isn't what it used to be, capital is scarce, times are tight. So what are risk takers to do? Gamble, apparently. News of online gamblers that have become millionaires overnight are flooding the web. These fortunes -- amassed solely by the skill of the gamblers who earned them -- are attracting the attention of the world. And many, whether they've made millions or tens or hundreds of thousands are declaring online gambling the new home of the self-made millionaire.
Is the Dot.Com Era Really Over?
It depends on who you ask. It's less and less likely that your domain name or idea for a website will make you millions. But one of the by-products of the dot.com industries was the birth of a new cash cow: online gambling. Since its inception a few decades ago, the online gaming industry has grown by leaps and bounds. In fact, there's so much cash flooding in and out of the myriad sites online that it is tough for analysts to come to a precise number. There are literally millions of players from all over the world that log on day and night for their chance to hit it big from the safety of their living room. But the estimates that they have made are staggering. The number is somewhere around $30,000,000,000 if not more. Even more mind-boggling is the rapid growth. Back in 1998, just 15 short years ago, revenue from online gambling was a comparatively paltry $280,000,000. As the dot.com boom petered out, the online gambling industry gained steam.
Unbeknownst to most who are struggling to make ends meet during one of the worst recessions in American history, online gambling is one of the few silver linings in this dark cloud. Just as banks were closing and job markets narrowed, online gambling boomed. During one of America's darkest periods, online gambling became the second largest online gaming market. It follows close behind Europe and is quickly being followed by Asia and the Middle East. As the world collectively pinched its pennies, smart investors turned to online gambling -- and it proved to be just the savior that they needed.
While some things have proved to be recession proof, the stock market is certainly not one of them. Both the stock market and the real estate game are in worse shape than they've been in a long time. Even professional investors are finding that there just aren't that many opportunities for smart investors to make to come out on top much less make it rich overnight. Stories of stock market booms and investors who won the investment lottery are simply no longer in the news. What has taken their place are gambling success stories. Online gamblers like Daniel Cates who became a multi-millionaire thanks to his smart playing or John Orchard the 60-year-old Englishman who made roughly $2,360,000 on a single online bingo win have helped boost online gambling's popularity even among those who used to play the market.
It's Not as Hard as You Think
Since online gambling is such an easy way to make millions, why don't more people turn to the net to make or supplement their income? As far as researchers are concerned, it's a feeling of intimidation. Novice gamblers feel like they don't have what it takes to compete with the big boys at the virtual gambling table. They've spent their evenings watching stern faces in sunglasses silently make bets around a poker table at a high stakes tournament. What they don't know is that the online climate is much different.
Like any brick and mortar casino, online gambling caters to all levels of players. No matter your skill level, there is always somewhere to cut your teeth and win small until you're ready to win big. And now that the gambling community has moved online, there's more help on offer than ever before. Amazon has a wealth of gambling books for those willing to put in serious research. Websites, blogs and YouTube video offer information in more accessible bites. Players who tune in can learn one or two tricks, put them up their sleeves and perfect them at the novice table before adding more skills to their repertoire.
Where Do You Start?
Because online gambling is such a great opportunity to learn, there are a staggering number of sites online: thousands at the last count and the number is growing even as you read this article. So where do you start? The best place to begin is a casino with a good reputation or one that offers gamblers helpful tips and a wide variety of games. Novice gamblers may take a while to find their forte: the game that they're naturally good at or love enough to put in the effort to make it their career. And doing that is getting easier all the time.
Once upon a time, online gambling was a largely illegal outfit where trading took place under the digital table and just out of the eyesight of the authorities. However, the climate is changing. Several states have legalized online gambling and more are sure to follow suit. Whether you choose to gamble domestically or abroad, you'll find online gambling as safe or safer than any other online transaction.
One of the best by-products of online gambling's popularity is its regulation. Once the internet was the wild west of human interaction, but times have changed. Today online casinos are just as safe to use as any brick and mortar establishment. And since there's no insider trading or Enron caliber fraud to contend with, the argument that online gambling is much safe than stock trading is not hard to make.