Internet Gambling Essay

This document will inform you about the history of internet gambling, the existing issues, and a number of concerns involved with online gambling. Prior to the launching of the World Wide Web in 1993 which changed the setting of gambling, people had to travel great distances to gamble. The world’s first virtual online casino, Internet Casinos, Inc. (ICI) commenced operation on August 18, 1995 with 18 different casino games. Most of these online gambling companies are located outside of the U. S.to avoid government prosecution. ICI operates out of the Turks and Caicos Islands (Kish, 1999). One of the main reasons internet gambling started was because of costs. The value to start up an internet gambling site is around 1. 5 million dollars, which is half of what it costs to actually construct a casino. ICI estimates that the company averages about a twenty four percent profit margin, versus the typical United States casino, which ranges from eight percent to sixteen percent of each dollar wagered (Kish, 1999). An estimated twenty million people are currently online with a projected 160 million online by the year 2020. The overall market for online gambling is estimated to be approximately $49 billion worldwide (Kish, 1999). The history of internet gambling is only a decade old, however, its history will hold on for several more. There are several existing issues facing internet gambling. The first issues we will discuss are how to regulate internet gambling. The question raised by the emergence of Internet gambling is whether old laws–based mainly on a world of atoms–are still viable, and if not, in which way the Internet should be regulated (Walther, 2000). Some scholars believe that internet gambling needs to be regulated, and of course there are those that say let the owners of the sites regulate themselves. Regulatory procedures can be targeted at either or both of the providers and the consumers of gambling services. In the case of consumers, regulation is usually implemented by age, through prohibition of the participation of minors. Procedures might also be contrived to prohibit problem gamblers or undischarged bankrupts from engaging in gambling (Clarke, 2000). Another existing problem with internet gambling is The Wire Act which was intended to assist the states, territories and possessions of the United States, as well as the District of Columbia, in enforcing their respective laws on gambling and bookmaking and to suppress organized gambling activities. Subsection (a) of the Wire Act, a criminal provision, provides: â€Å"Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers, or for information assisting in the placing of bets or wagers, shall be fined under this title or imprisoned not more than two years, or both† (Rodefer, 2003). During the House of Representatives debate on the bill, Congressman Emanuel Celler, Chairman of the House Judiciary Committee stated â€Å"[t]his bill only gets after the bookmaker, the gambler who makes it his business to take bets or to lay off bets. . . It does not go after the causal gambler who bets $2 on a race (Rodefer, 2003). What the government is having a problem with is that most internet gambling sites are run ran in foreign countries, and they cannot enforce this act against them. What they are trying to do is change the act to include these third parties. An example of this is the introduction of the Internet Gambling Prohibition Act of 1997 (Walther, 2000). The bill would have prohibited Internet gambling by extending the Wire Act’s prohibitions on traditional forms of gambling by phone or wire to the Internet (Walther, 2000). This amendment would provide penalties for online bets and wagers. This so far seems to be the best solution, however ethical and moral dilemmas still rest in the hands of our lawmakers today. The next issue facing internet gambling is taxes. This seems to be the government’s biggest issue. This is because of the billions of dollars we mentioned for profit by these online sites, government can gain significant amount of money from it. The legalization of Internet gambling may cause states to lose some revenue generated from legalized gambling operations because many gamblers would spend their money online (Lassani, 1998). Moreover, states lose revenue by not being able to tax gamblers who win over the Internet. Gamblers who win over the Internet have an incentive not to pay taxes on their winnings because the Internal Revenue Service (IRS) lacks the resources to track online gamblers (Lassani, 1998). The likelihood of addiction to Internet gambling among both children and adults is an extremely important concern. In relation to addiction, children are more likely to become addicted to something new than adults (Smith, 2004). For example, the video game-like nature of virtual casinos, labeled the â€Å"crack cocaine of gambling,† could make online gambling a temptation difficult to resist. Furthermore, the fact that the Internet gambler need not leave the comfort and privacy of his or her home could mean that an individual might become easily addicted. This is the worst thing about internet gambling, because there will not be anyone to detect if a person is addicted or not. Consequently the only aid they will get is their selves, and that leaves the player defenseless against the dependence of gambling. Having to go to the casino to gamble has better chances of knowing who is addicted and who is not, they have hired hands to detect this problem, unlike the home atmosphere. Kevin O’Neill, Deputy Director of New Jersey’s Council on Compulsive Gambling says â€Å"The real threat comes from the isolation and secrecy of the betting activity itself. † â€Å"I call this threat the cave syndrome due to the gambler’s isolated behavior and hidden activity† (Wharry, 2001). In closing the short lived World Wide Web as created pandemonium with our lawmakers. The dilemma of how everyone interprets the Wire Act is a major concern. The efforts to amend it to make all users liable for using the websites are tiresome, and stopping foreigners from creating internet gambling sites seems never-ending since the United States cannot control them. In just over a decade there are over twenty million users, expected to increase to 160 million in the next 14 years. Its revenue is over 49 billion dollars and increasing. There are more profit margins with online gambling than the traditional casino. The cost to create a gambling web is 1. 5 million dollars compared to the 300 million to build a casino, this creates profit and increases attendance because of its trouble-free access. One important concern with internet gambling is addiction. Children are easily addicted to new things than adults and it will make it harder to control and detect gambling addiction. Internet gambling is a good creation for those people who can control themselves, but for those who cannot have a greater chance to end up bankrupt. Thus we can see from this example alone, why lawmakers are having such problems to secure the problem, do they let it carry on or let people put themselves in jeopardy of losing everything. Michael Bolcerek the President of The Poker Group said, â€Å"It’s a personal liberty issue with regard to how you spend your money and what you see over the Internet†(Roth, 2006). References: Clarke, R. (2000, December). The feasibility of regulating gambling on the internet . Retrieved May 5, 2006, from Regulations of internet gambling Web site: http://www. anu. edu. au/people/Roger. Clarke/II/FeasIGR. html Kish, S. (1999). An analysis of the government’s role in addressing internet gambling. Betting on the Net, 51(no 2), 449-6. Lessani, A. M. (1998, May). How much do you want to bet that the internet gambling prohibition act of 1997 is not the most effective way to tackle the problems of online gambling. Retrieved May 4, 2006, from The Internet Gambling Prohibition Act: An Analysis Web site: http://www. gseis. ucla. edu/iclp/alessani. html Rodefer, J. (2003). Federal wire wager act. Retrieved May 5, 2006, from Gambling-Law- US. com Web site: http://www. gambling-law-us. com/Federal-Laws/wire-act. htm Roth, B. (2006, April 25). Foes try to squelch online gambling.Knight Ridder Tribune Business News, [1]. Smith, A. (2004). Controversial and emerging issues associates with eybergambling (e-casinos). Online Information Review. 28(6), 435-443. Walther, F. M. (2000). A comparative u. s. -swiss perspective. Retrieved May 5, 2006, from Internet Gambling Related Regulatory Questions and Enforcement Problems Web site: http://stlr. stanford. edu/STLR/Events/gambling/contents_f. html#note5 Wharry, S. (2001). E-Gambling threat worries addiction experts. You Bet Your Life, 165, 325.

Nutrition and Health Worksheet Essay

Use Ch. 1 of Contemporary Nutrition, Ch. 2 of Visualizing Nutrition, supplemental course materials, the University Library, the Internet, or other resources to answer the following questions. Your response to each question should be 75 to 100 words. 1.What is nutrition? Why is nutrition essential to our daily lives? Nutrition is the science that links foods to health and disease. It includes the processes by which the human organisms ingest, digest, absorbs, transports, and excretes food substances. 2.What is the connection between nutrition and health? 3.What are the six classes of nutrients? What are essential nutrients? What are the sources of nutrients? What do nutrients do? 4.How do vitamins and minerals work? 5.What does it mean to eat a balanced diet? Why is food choice important for good nutrition? 6.What is undernutrition? What is overnutrition? 7.Why is physical activity important as it relates to nutrition and health? 8.Where might you find dietary recommendations? What are the recommended dietary allowances (RDA)? What are dietary reference intakes (DRIs)? 9.The United States Department of Agriculture created a diagram titled MyPlate. What is this diagram? Why should someone study this diagram? 10.What are some tools for diet planning? 11.What is the calorie intake calculator? What factors does this calculator take into account? 12.What are some dangers associated with dieting? 13.What is the best way to lose weight? Explain your answer and provide at least one source, formatted consistent with APA guidelines, to support your answer. Reference 14.How does exercise influence body weight? 15.Consider your personal dietary habits. What are some modifications you might make to promote good health? 16.How does today’s society affect our nutritional habits?

Working Management and Dividend Policy Assignment

Working Management and Dividend Policy - Assignment Example The two most significant theories dealing with this subject, as explained by Brealey and Myers, are that of Miller and Modigliani (MM), and the traditionalist view. According to the theory proposed by MM, the capital structure of the firm has no relevance to determining the value of the firm. So, they opine that there is no difference in the value of stock between geared and ungeared firms. Gearing does not affect the value of a firm, whether positively or negatively. The payment of dividend also is not necessarily required to be done on a regular basis, since it does not have any effect on the value of the share price. MM have proved that capital structure can be irrelevant even when debt is risky. (Brealey and Myers 469) Thus, MM propose that financial leverage or gearing does not affect shareholders wealth. And secondly, that the rate of return on shares increases as the firm's debt-equity ratio increases (pp. 473). But, this increase is exactly offset by increased risk and hence, the required rate of return, which nullifies the increase in returns. A "traditionalist" view has emerged in response to MM's proposals regarding geared equity. The traditionalists believe that personal borrowing is more expensive, risky and inconvenient to investors, so they are willing to pay a premium for shares in moderately geared firms. Consequently, they believe that firms should borrow to "realise" this premium. (Brealey and Myers 782) According to this view, up to a certain point of gearing, the Weighted Average Cost of Capital (WACC) decreases, and after this point WACC increases. The point where WACC is minimum is the optimal point of gearing, where shareholders' wealth is maximised or price per share is highest. (McLaney 231) MM rejected this view and opined that WACC is impervious to level of gearing. Wacc and the value of a firm only depend on (1) the cash flows generated by the investments of the firm, and (2) their business risk. (pp 234) They see a world without taxes or bankruptcy costs. McLaney observed that a large proportion of firms do go for some level of capital gearing, while very high levels of gearing are very rare. Thus, managers do believe that gearing lowers WACC, but not at very high gearing levels. Empirical evidence shows that "firms with safe, tangible assets and plenty of taxable income have higher debt to equity ratios than an unprofitable business with intangible assets." (Warner 1976, and Altman 1984 qtd. in Soderlund and Ostermark) The pecking orders theory by Myers (1987) gives a conflicting view. It explains that some profitable firms borrow less as they have less requirement of outside money. Kjellman and Hansen (1993) have found that Finnish financial managers seek to maintain a constant debt to equity ratio. (qtd. in Soderlund and Ostermark) Soderlund and Ostermark have found that there are less dividend payouts when interest payments are high, since funds are channeled more towards creditors. There is a tradeoff between dividends and investments also. A tradeoff is also seen between dividends and net income. "When maximising net income, the model minimises dividends and prefers investments." (Soderlund and Oste

Total Quality Leadership Research Paper Example | Topics and Well Written Essays - 2750 words

Total Quality Leadership - Research Paper Example Efficient processes also help minimize cost so companies and organizations using sound processes maximize the use of resources and reduce cost (Deming, 1986). As a management approach, TQL capitalizes on the theory of variation, the application of systems, the mind set of the person or team of persons and the scientific means of pursuing optimum performance (Houston and Dockstader, 1997). As a scientific approach to management, TQL facilitates good performance and the proper delivery of services to maximize productivity (Suarez, 1992). The basic concepts involved in TQL include focus on quality of goods and services, costumer satisfaction, improvement of processes, and process management (Luria, 2008). The underlying principle of this management approach is that improved processes can lead to improved quality of goods and services (Luria, 2008). To improve the organizational processes, a company must look into the different aspects of its operations and recognize the fact that its em ployees are important sources of process information. TQL is a complex concept that affects the different aspects of the business. Like TQM, TQL goes deep into the heart of the business operations to strengthen the organization and it extends outward to reach out to the clients of the business. ... Basic Concepts of TQL and their applications By definition, TQM is an application of quantitative methods as well as people assessment to improve processes within the organization to give better services to clients. This management method takes into consideration the role of human resources within the organization as a repository of processes knowledge (Houston and Dockstader, 1997). For TQL, both individual and collective knowledge are important, thus, it gives emphasis on the collective knowledge of those people who are involved in the different processes employed by the organization (Houston and Dockstader, 1997). As it is, group dynamics in the organization is considered as part of the processes of the organization so working teams are very important. The way the working teams behave in coming up with solutions to issues at different levels of the organization is a very important factor that can make or unmake the organization. Organizations, whether big or small undergo numerous process and the application of TQL is crucial in many of these processes. The different processes that are crucial in the application of TQL in the organization are usually found in the following areas: a. Good Quality The quality of goods and services is one of the primary concerns of TQL so this management approach employs certain measures and quality standards to maximize productivity (Luria, 2008). In most cases, companies do both â€Å"quality control by inspection and audit† and â€Å"quality control by prevent† to maintain product integrity (Feigenbaum, 2007). The main focus of â€Å"quality control by inspection and is to sort out the good and the bad products. By definition, an inspection is an organized evaluation using appropriate tools and certain quality parameters. Most types of

Write a policy brief for the following client ..national government Essay

Write a policy brief for the following client ..national government officials on whether the rise in anti-politics sentiments should be of concern - Essay Example The political class has continuously accrued benefits at the expense of the people they claim to represent. To eliminate the rise of anti-political sentiments, the nationalism sentiments must be promoted through equitable distribution of resources. Self-serving politicians have caused the populace to develop a strong dislike for politics. The low political interest and anti-political sentiments can be overcome through intentional steps understand the needs of ordinary people. Therefore, politicians should take time to discuss with their policies with the public even when they are occupying powerful positions. It is recommended that politicians make policies through consultative processes. Structured decision making processes ease tension and reduce anti-political sentiments. In many parts of the world, people have been developing disenchantment from politics. The persistence in alienation has been increasing. According to Hansard -Audit of political involvement-, the start of the 21st century assessment indicated the desire of the British people to have meaningful and significant improvement in the government and political systems. Over six out of ten Britons had little or no faith in the political systems. An increasing number of people have lost confidence on the political system. This has been clearly seen through the desire to have an overhaul of the electoral system. The focus has been to make a system that is inclusive and reflective of the needs and desires of the people. Political participation by citizens is a multidimensional issue. The rise of anti-political sentiments has been stirred by poor governance and insensitivity from the leadership. There is a dire need to develop policy that encourages inclusiveness and political equity (Hansard So ciety 2011, 17). There are calls to increase and develop the political capacity of the citizens and to establish new politics that respect with concerns of the

Beverlys Actions Essay Example | Topics and Well Written Essays - 1000 words

Beverlys Actions - Essay Example As the discussion highlights the right people should be present and not just any number of people and the agenda should be tightly focused on what is the expected outcome of the retreat. This requires that each participant has done the basic ground work before going for the retreat. They should be well equipped with data for the proceedings of the meeting. They should also be in a position to have data that would help to review the achievements over the previous year. Then, the participants should not be involved in the organizational aspects of the retreat so that they are free to concentrate on the proceedings and the purpose of the retreat. This paper outlines that Second National Bank (SNB) is spending lot of time in preparing organizational mission statement, vision and aspirations but makes on effort to align the organizations with the values ad visions already in place. They have a vision, they create a vision but they have not become a â€Å"truly visionary organization†. Creating alignment itself is a two-part process – the first is to identify and correct misalignments and the second is to create new alignments. At SNB they have been able to recognize that they have not been able to implement their visions of the previous year but there are no efforts to correct them. At the same time, they have not created any new vision or alignment but have just decided to follow what they had decided the previous year. The top management including the VPs has not taken any initiative to follow up or align their goals and visions.

Global Trade and Distribution Strategy Coursework

Global Trade and Distribution Strategy - Coursework Example In some cases, imported goods are of low quality hence they have cheap prices which make people shun products that are locally manufactured. 2. The target market for the Achilles kids shoes mainly include the parents who have young kids. The kids themselves are dependent on their parents for all their clothing needs. The company ought to identify factors such as levels of income of the targeted group. In order to cut costs, distribution strategy that would work for this target market is that the company performs the distribution of the products itself. After the products have been manufactured, the company ought to identify the channels through which the products will be distributed. The products should be sold through company operated stores since this helps to attract many customers. More importantly, this helps to reduce costs since other suppliers may charge more money for performing the same task of distributing the finished