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Introduction Online betting is a rapidly growing industry, with an estimated global market value of $60 billion in 2020, and projected to reach $94 billion by 2024 (Statista, 2021). The rise of the internet and advancements in technology have facilitated the growth of this industry, making it accessible to a wider audience. This report aims to examine the emergence and growth of online betting, the challenges it faces, and its impact on society.

Emergence of Online Betting The first online betting site was launched in 1996, and within a few years, several more sites emerged. These sites allowed users to place bets on various sports events, including football, basketball, and horse racing. The convenience of online betting, coupled with the availability of real-time information, made it an attractive option for gamblers. Growth of Online Betting The growth of online betting has been fueled by several factors, including: 1.

Increased accessibility: The internet has made it possible for anyone with an internet connection to access online betting sites. 2. Advancements in technology: The use of smartphones and mobile devices has made it easier for users to place bets on the go. 3. Wider range of betting options: Online betting sites offer a wider range of betting options, Washington Post Today including live betting, in-play betting, and virtual sports. 4. Better odds and promotions: Online betting sites offer better odds and promotions compared to traditional bookmakers, making it more attractive to users.

Challenges Faced by Online Betting Despite its growth and popularity, online betting faces several challenges, including: 1.