4 years ago
Online gambling is a big lure to college kids looking to cash in.
The industry made nearly $12 billion last year. But last month Washington said not so fast. President Bush signed an internet gaming bill that makes it illegal to use credit cards or bank accounts to pay for online bets.
However, critics say, just like prohibition, gamblers will find ways around the new law.
What's the attraction of online gaming? Just ask Jesse, a junior economics major.
"I've been able to pay for my school, my car payments, and I can pretty much buy anything I want."
Jesse plays online poker a few hours a day.
"I was a lifeguard for a couple of years, working for $7 an hour. It was all right when I was a teenager, but I can't work for $7 an hour anymore," says Jesse.
Studies suggest the hope of winning is why about 850,000 males between 18 and 22 gamble online at least once a month. That's doubled since last year.
The flip side to the profits, is Brad's story. Also a finance major, he won thousands of dollars -- at first. Then his luck changed.
"I had no concept of money at all. I would go online. I could lose 1,000 dollars an hour and not even blink an eye," says Brad.
At $20,000 in debt, Brad was told -- get help, or leave school. So he joined Gamblers Anonymous, which helped him come up with a painful way to get out of debt.
"Just by working winters and summers, it's going to take me three to four years to pay this off."
John Tessada with problempoker.com has come up with a way to help those trying to beat the online gambling urge. A Virginia-based subscription company, problempoker.com filters online betting sites.
Says Tessada, "This is needed because people can't control themselves when they have an addiction. It's not a social act."
Written By Emily Schmidt9NEWS NOW
