For those people that are not familiar with the phrase "Bucket Shop", it means that it is an unlicensed shop that usually sells cheap airline tickets, and the like. These type of shops were very prevelant back in the 1980s. They thrived and grew because most commercial airlines wanted to discard seats to the airline agents at a much cheaper rate, rather than see the seat unoccupied on the plane. This activity had spawned a lot of small shops to advertise in the newspapers and magazines about these low prices, but ultimately, sold their tickets at a much higher cost to customers. This is just another of the ways in how these shops operated: Take the money, close down the business, and then opened again a new business with another name.
At that time, there was no law set up to stop this kind of practice; it was up to the customer whether they wanted to part with their money, and just leave things to fate. For a long period of time, these "Bucket Shops" gave the travel market a very bad reputation among tourists. The arrival of the World Wide Web seemed to change the negative impression, making cheap but reasonable air travel available to a lot of people.
Could a new wave of "Bucket Shop" be occurring in a totally new environment, say, like the Online Gaming Industry? Before we take a look at this possibility, let us carefully examine the online gaming industry, particularly the various games available online. Betting has always been an innate part of human civilization, since the beginning of time, which stems from man's desire to try to win something. Whether to try to curb it, or let it continue, is entirely up to the individual.
As the years have gone by, the evolution of gaming has continued to grow and develop, from a privilege of the chosen few, which were usually playing at the casinos of the super-rich in Monte Carlo, Monaco, and those that were built in Las Vegas. Both good and bad people work at these kind of places, but there are also suspicious individuals that are working at other places that are far worse. If you are quite involved in the world of gaming, you would see that it is really not that big. Casinos are just like your typical club, and those that are in the know, or are in the private circle, understand how the industry works. To be accepted in the inner circle, you have to earn it. The introduction of online gaming has presented a major stumbling block for the whole gaming industry, though only a few would admit it. They were presented with a problem that left them with a choice: Either they open their doors to the masses, or do not change the situation, and forego a potential profit source.
Mere logic demanded that they think about it, but one of the obvious difficulties for these establishments are the transactions themselves. Online transactions have always presented a problem because no matter what precautions you take, there is still an element of trust that needs to be clarified. But it seems that the industry is slowly getting there. The industry's staunch professionalism is so obvious in their land-based casinos, and this is now being channeled to their online casinos.
Millions of dollars are now spent every year to make online casinos as secure as they would be in a land-based casino, but with an added feature that the players are playing in the security of their own home. As the sites gain popularity, so does the prizes and money that the players are fighting for. Online jackpots have reached several hundred thousands of dollars, and even millions.
The amount of cash that's being wagered is just unbelievable. When the law (UIGEA) that prohibits online gaming transactions for games of chance online, it became a great burden to the whole industry and signaled to the "Bucket Shop" owners waiting in the shadows that this is may be a good opportunity for them. Though a lot of people have continued to explore various options in gaming, like backgammon, or mahjong (or other games that are exempted from the new law), traditional casino games have been banished to the recycle bin. The law that was passed in the United States can also be felt even outside of the country. Israel is one of the countries that is clamping down hard on online gambling in their country.
The irony of the whole thing is that, according to a sworn testimony by gaming experts, and a U.S. Court Judge's decision, Backgammon is a game of skill, not chance, so expect gaming companies to contest the ban. The fact also remains that people will continue to wager and gamble, whether they do it legally or illegally. This decision should be left with the individual, as all of us have the freedom to do so. If you take this right away, then you are no different from those people and groups that only care for themselves. Let's face it, the new bucket shop era is beginning, whether we like it or not.