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Free sportsbook
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With the 2008 implementation of the Unlawful Internet Gambling Enforcement Act, the a new type of sports betting website (free, legal sportsbooks) has emerged. These websites, such as FreeSportsBet.com are free versions of an online sportsbook. These websites are a legal form of online gambling in the United States that allow users a chance to win real cash by betting on sports without risking their own money. Industry Size Sports betting is one of the largest industries in the world. According to Global Betting and Gaming Consultants, $500 billion was bet worldwide on sports in 2005 ($1.4 billion dollars bet on sports per day). A study done by the United States Government in 1999, The National Gambling Impact Study reported that over $380 billion is wagered on sports each year in the United States, which is more money is spent annually in the US on gambling than on books, DVDs, music, games and videos combined. Legality The legality of online gambling is a topic that has gotten a lot of attention recently. In 2006, Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) as part of the SAFE_Port_Act. As a result, many regular sportsbooks left the the U.S. Market, paving the way for the Free Sportsbook. Currently an effort is underway in Congress, led by House Financial Services Committee Chairman Barney Frank, to overturn the UIGEA. According to I.Nelson Rose from Gambling and the Law, "Gambling consists of three elements: Consideration, Prize and Chance. If any one of those three elements is missing, the game is simply not gambling." FreeSportsBet.com does not allow people to risk their own money, thus there is no consideration. Usage New users are given $1.00 in which to bet. Once they turn that into $200, they can cash out for real US dollars. If they lose their initial stake, advertisers provide another $1.00 with which to bet. Users can bet on NFL football, college football, NBA basketball, College basketball, MLB baseball, NHL hockey, and WNBA basketball. See Also
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