Changes

'''Gambling''' is an addictive and unproductive activity consisting of betting on games of chance. Sometimes the game entails some skill as an attraction, as in [[poker]]. Gambling also includes betting on sporting events, or on events such as election results. [[Lottery|Lotteries]] are a common form of gambling, with a small stake being bet for the very low probability of winning a very large amount of money, if the numbers a player chooses are selected by a random number picking device.

'''Gambling''' consisting of betting on games of chance or uncertain outcomes (like the winner of a sports match or an election).   Sometimes the game entails some skill as an attraction, as in [[poker]]. Most gambling is informal among friends, as in weekly poker games or in office pools focused on a sports championship.  

Many tragedies result from addiction to gambling, such as losing all of one's money in a single gambling spree.  Only [[Missouri]] has a [[Gambling_Loss_Limit|gambling loss limit]].

However the gaming industry is a major tourist-oriented business in Nevada. In recent decades casino gambling has been legalized in many states, in come cases in narrowly specified locales (such as riverboats) or on Indian reservations (which are less subject to state law.)

In games played against the "house" (for example, in a [[casino]]), typically the players will have an [[expected return]] of less than 100%. For example, in roulette, in the case of a 0 or 00 result, the money bet goes to the casino. In games against other players (such as poker), the expected return might be 100%, when the players are of equal skill levels (assuming the order of dealing is not important), or certain players might have greater (or lesser) expected returns, if they are better (or worse) players. If all the money stays with the players, then the overall expected return is 100%. If the "house" takes a rake of the money bet, the overall expected return will be less than 100%.  

In games played against the "house" (for example, in a [[casino]]), typically the players will have an [[expected return]] of less than 100%. For example, in roulette, in the case of a 0 or 00 result, the money bet goes to the casino. In games against other players (such as poker), the expected return might be 100%, when the players are of equal skill levels (assuming the order of dealing is not important), or certain players might have greater (or lesser) expected returns, if they are better (or worse) players. If all the money stays with the players, then the overall expected return is 100%. If the "house" takes a rake of the money bet, the overall expected return will be less than 100%.  

Following passage of UIGEA, former Republican U.S. Senator [[Al D'Amato]] joined the Poker Players Alliance (PPA) to lobby for the right of poker players to play online.

Following passage of UIGEA, former Republican U.S. Senator [[Al D'Amato]] joined the Poker Players Alliance (PPA) to lobby for the right of poker players to play online.

 

On April 26, 2007, Rep. [[Barney Frank]] (D-MA) introduced HR 2046, the Internet Gambling Regulation and Enforcement Act (IGREA).  The IGREA would modify the UIGEA by providing a provision for licensing of Internet gambling facilities by the Director of the Financial Crimes Enforcement Network.  On June 8, 2007, the [[House Financial Services Committee]], chaired by Rep. Frank, held a hearing entitled, "Can Internet Gambling Be Effectively Regulated to Protect Consumers and the Payments System?".  Details of the meeting, including the archived webcast, are available on the House Financial Services Committee website<ref>http://www.house.gov/apps/list/hearing/financialsvcs_dem/ht060807.shtml</ref>.  Expert witnesses at the hearing testified that Internet gambling can be effectively regulated for age verification, money laundering issues, facilitation of state and federal tax collection, and for issues relating to compulsive gambling.

On April 26, 2007, Rep. [[Barney Frank]] (D-MA) introduced HR 2046, the Internet Gambling Regulation and Enforcement Act (IGREA).  The IGREA would modify the UIGEA by providing a provision for licensing of Internet gambling facilities by the Director of the Financial Crimes Enforcement Network.  On June 8, 2007, the [[House Financial Services Committee]], chaired by Rep. Frank, held a hearing entitled, "Can Internet Gambling Be Effectively Regulated to Protect Consumers and the Payments System?".  Details of the meeting, including the archived webcast, are available on the House Financial Services Committee website<ref>http://www.house.gov/apps/list/hearing/financialsvcs_dem/ht060807.shtml</ref>.  Expert witnesses at the hearing testified that Internet gambling can be effectively regulated for age verification, money laundering issues, facilitation of state and federal tax collection, and for issues relating to compulsive gambling.