There is an argument to be made that legalization may lessen the stigma around sports betting and lead to healthier conversations about it. But there¡¯s a flip side to that, too. Umali said he never had any kind of addiction before he started playing online poker and that he would never have begun playing had it not been legal.
Despite these concerns, many experts believe that online gambling will continue to grow in popularity. They believe that the convenience and accessibility of online gambling will outweigh any negative aspects.
It starts with the basic proof of identification, which confirms the bettor is of legal age to wager. It may also include proof of residency and proof of payment method. It could also advance to providing a tax identifier in the form of a Social Security card. With the power of technology comes the convenience of sending a photo to an operator that confirms any of this information.
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The exploded adoption of online gambling can be well understood from the fact that the market was worth USD 57.54 billion in 2021, and is projected to grow at a CAGR of 11.7% between 2022 and 2030. The growth of the global online gambling market is being driven by the increasing popularity of online games in public places and at home, thanks to smartphones and fast mobile internet. The market is also being boosted by cultural and legal approvals, easy access to online gambling, celebrity endorsements, and corporate sponsorships. Due to the availability worldwide of affordable mobile apps, the market will continue to grow.
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