Internet Gambling Jackpot

Internet gambling is growing at a phenomenal pace. In 1996, the industry consisted of 30 Web sites that brought in $30 million in wagers. But by 2004, more than 1,800 on-line casinos took in about $7.5 billion.

Last year, millions of Americans participated in Internet gambling, playing games like blackjack or poker on their computer screens, or placing bets on sporting events. Combined, they lost about $3.8 billion, roughly half of the worldwide total. What makes that amount truly staggering is that the practice of placing b.....