Verified Document

Ethics And Its Role In Term Paper

These gambling sites are also known and are purportedly practicing "illegal transactions," since online gambling in the U.S. is prohibited. The lack of confidence in investing on online gambling and insecurity of the financial channels and transactions of these sites stem from the fact that "[t]here is also a question mark over whether U.S. banks and financial services businesses which process online gambling transactions are in breach of law" (Begum, 2005:13). However, the question of the legality of these online gambling sites are being put into scrutiny. U.S. legislation has decided to deregulate online gambling through the 1961 Wire Act, with an updated version through the proposed bill Unlawful Internet Gambling Enforcement Act. The Wire Act is perhaps the only legislation that exists that is relevant to online gambling activity, wherein the law "prohibits the transfer of betting information across state lines using wire communication, such as the telephone" (Chesler: 2006:24). This legislation was, of course, conceptualized at a period wherein online gambling, or the Internet for that matter, has not yet been developed and prevalently used by American society. On the new proposed bill, the Unlawful Internet Gambling Enforcement Act, online gambling owners and users are prohibited from engaging in online financial transactions that requires the use of credit cards and fund transfers (25). These measures are set in order to protect the user mainly, and the online gambling sites as investments, secondarily.

By putting regulation on how transactions in online gambling sites are conducted, the American government is ensuring itself that the user refrains from placing cash bets that is not within his/her capacity, and simply, to curtail addiction that may develop as a result of the "easy money" generated from gambling. On the part of the investors and bankers, such legislation will ensure them that all financial transactions conducted online are not only valid and credible, but are also legal in the sense that cash flows do not come from a questionable source or funding.

Eadington (2004), in his assessment of U.S. online gambling, posited that despite the increased pressure to deregulate online gambling sites...

By this, the author meant that instead of prohibition, the government will have to just regulate these online gambling sites, mainly because: "[p]rohibition leads to greater illegal activity than does regulation...legal and regulated online gambling will ultimately replace illegal online gambling through competition..." (216). As Chesler has also conceded in his report, the economic profitability of these online gambling sites, especially in the U.S. (since 50% of the players/users come from America), cannot be ignored, and investment and banking institutions, recognizing the "profit potential" of online gambling, have begun investing on this online, financial activity (26).
Concerning the issues of gambling addiction and underaged gambling, Eadington believes that research on these areas is 'not fully developed,' thus "the state of knowledge about problem and pathological gambling and adolescent gambling is virtually nonexistent" (216). The author's position claims that, since there have been no concrete proof that both gambling addiction and adolescent gambling have detrimental effects to the player/user, then sanctions and ethical debates on these issue shall remain unwarranted, at least for now in the case of online gambling.

Bibliography

Armitt, C. (2005). "One in three UK Internet users visited gambling sites in April." New Media Age.

Begum, H. (2005). "Wall Street banks shun online gaming floats." Lawyer, Vol. 19, Issue 35.

Chesler, C. (2006). "Taking a Gamble." Investment Dealer's Digest, Vol. 72, Issue 23.

Dudley, D. (2004). "Portals increase pressure to stop underage gambling." New Media Age.

Eadington, W. (2004). "The future of online gambling in the United States and Elsewhere." Journal of Public Policy & Marketing, Vol. 23, Issue 2.

Sources used in this document:
Bibliography

Armitt, C. (2005). "One in three UK Internet users visited gambling sites in April." New Media Age.

Begum, H. (2005). "Wall Street banks shun online gaming floats." Lawyer, Vol. 19, Issue 35.

Chesler, C. (2006). "Taking a Gamble." Investment Dealer's Digest, Vol. 72, Issue 23.

Dudley, D. (2004). "Portals increase pressure to stop underage gambling." New Media Age.
Cite this Document:
Copy Bibliography Citation

Related Documents

Ethics - Role Model Integrity
Words: 1499 Length: 5 Document Type: Essay

Conversely, the individual with integrity understands first, that moral issues never hinge on gender and that casual sex cannot be moral for one person and immoral for another person based on gender, and second, that in any case, a woman's prior sexual history has absolutely no bearing on his obligation to be truthful in expressing his intentions. Another illustration of integrity in large groups is evident in sentiments about racial

Role of International Human Resources
Words: 1985 Length: 7 Document Type: Thesis

Discussion and conclusions The findings are explained for the reader, they are easy to understand, and their explanation is sufficient and not exaggerated. The results are summarized and categorized. The article discusses only the issues that are directly influenced by the implementation of ethics programs. Other issues that might be tangent to the situation but that are considered not to be important enough are not taken into consideration, in order to

Ethics and Professional Behavior the American Court
Words: 1614 Length: 6 Document Type: Essay

Ethics and Professional Behavior The American court system is one that has existed as long as the constitution has been in existence. They are provided for in the constitution of the U.S.A. And have the powers and mandate as prescribed in the constitution. The courts are fundamental in the society in regards to maintaining law and order and also bringing amicable, legal and acceptable settlements among people, organizations, institutions and even

Ethics Inventory the Ethics Awareness Inventory and
Words: 814 Length: 3 Document Type: Essay

Ethics Inventory The Ethics Awareness Inventory and Psychology There are few features that will define a person's life, experiences, interactions and self-image as pointedly as will one's ethical orientation. Indeed, the Ethics Awareness Inventory (EAI) is an instrument which allows the individual to effectively characterize his or her own distinct type of ethical orientation. In doing so, it also highlights the permeating relevance of this orientation in the areas of personal, professional,

Ethics in Educational Research Personal
Words: 939 Length: 3 Document Type: Discussion Chapter

The person should also be familiar with the various cultures being included in the study, to ensure that no unnecessary discomfort is experienced as a result of culturally sensitive utterances. The role of ethics in educational research is therefore to make the participant experience as comfortable and indeed as enjoyable as possible. Research participants are offering their time and knowledge to the study, and should be treated accordingly. Ethical principles

Ethics Research the Role of
Words: 1946 Length: 7 Document Type: Creative Writing

It is important that I am honest to anyone who I choose to be my mentor. Communication must be frank and honest, as learning is the key to research. Requirements for IRB Approval Institutional Review Boards (IRB) are the governing bodies that determine what research may be conducted at the university. This is the approving authority for future knowledge and must be treated with honor and respect. As a student under

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now