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Online Gambling to Make Super Bowl XL Top Gambling Event in HistoryMany pundits predict that this year's Super Bowl XL will be the most bet- upon sporting event in the history of the world, largely due to the recent prominence of online gambling.Online gambling site operators are gearing up for a swift business; online gambling industry analysts predict that close to $1 billion will be wagered on today's big game via the internet. This figure is double the amount wagered on the football championship game through online gambling sites last year. UNLV professor David Schwartz, who recently authored the book "Uneasy Convictions: The American Pursuit of Gaming and the Wire Act," said that online gambling is simply the latest incarnation of a perennial American theme. "When the telegraph was invented one of the things it was used for was to send horse racing results across the country and from that time on Americans have been fascinated with gambling. Now with the Internet is taking things to a whole new level." There is no doubt that the online gambling business has grown exponentially in recent years. There are approximately 2,000 online gambling sports books today, whereas there were only thirty ten years ago. Many of the sports- related online gambling companies began as phone betting centers, through which gamblers could place bets through a toll- free number. However, operators say that the internet is highly superior to the phone as a sports gambling venue. The call centers used to operate phone betting have high overhead costs, forcing operators to require that gamblers place minimum bets as high as $100. Moreover, many potential customers were uneasy about the notion of placing a bet via the telephone. Online gambling operators, on the other hand, have very low overhead costs which allow them to permit low minimum bets. Also, the online venue allows operators to offer more betting options. Online gambling fans may place bets on virtually any aspect of the game, ranging from traditional bets on scoring to bets on who will win the first coin toss. Some online gambling sites have over 1,000 proposition bets. Furthermore, many people feel more comfortable placing bets over the internet than they did over the phone; e-commerce has become, in the past decade or so, an important part of how Americans buy and sell things. Also, many online gambling businesses are publicly traded, which convinces players that they are here to stay. Despite its popularity, there is a great deal of confusion as to whether online gambling is even legal. Although the U.S. Justice Dept. says that it is illegal for U.S. residents to gamble online, although cannot be prosecuted under the Wire Act since the law allows only for prosecution of operators. Operators are based abroad, in countries which allow online gambling.
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