Gamblers Anonymous organizers in Pennsylvania and New Jersey have observed a rise in the number of younger people at their weekly meetings in the last six years.
One example is 18-year-old self-proclaimed gambling addict Ryan. According to him, less than a month after playing his first poker game in an internet site, he was hooked. His wagers added up to nearly $20,000 on a stolen credit card.
The youngster now attends Gamblers Anonymous meetings in Basking Ridge, N.J. twice a week. At a young age, he is already trying to piece his life together. Ryan lost a baseball scholarship to Duke University after officials found out about his arrest for identity theft.
Although American gambling companies are prohibited from establishing online gambling sites, it was perfectly legal for Americans to bet on them.
But the growing concerns about internet gambling prompted the Justice Department to prosecute offshore gambling sites that are reportedly skirting American laws and luring customers from the US, which is their prime market.
The US House recently passed a measure that bars banks and credit card companies to make payments to internet gambling sites. The legislation is currently awaiting decision in the Senate.
"When it comes to online gaming, I think the issue is very simple: License it, regulate it and tax it," said MGM chairman and chief executive Terry Lanni believes. "If we could add our brand, and the credibility of a publicly traded United States gaming company, this could be a vast business."
"When you have that kind of demand, supply is always going to meet it," said Toby Corey, who recently launched NBX.com, a fantasy league sports-book site based in Saratoga, Calif. The site does not allow cash bets. "It's Economics 101."