Gamblers no longer need to drive to a casino to play. No figures exist for Internet casinos, but Allen and Endlar predicted gamblers' losses are burgeoning quickly. On a computer, gambling's addictive lure is trebled, Endlar said. Law enforcement officials and auditors have no way to monitor transactions or levy taxes. Young computer users, uninitiated to the money-losing realities of gambling, could squander parents' savings simply by securing a credit card number.
Internet gambling is ideal for money laundering.
Mobsters with illicit cash can easily pass it through a friendly gambling site. Mafias have already established or invested in online casinos, said Allen. Cash-rich gambling sites make lucrative targets for computer hackers, who may seek to steal funds stored on casino computers. Virtual casinos are metamorphosing into online banks, offering high rates of interest to players who store money. Security of such banks is untested and unregulated.