The online gambling market is a multibillion-dollar industry that includes the operations of casinos, sports betting and other games of chance on the internet. It does not include Video Lottery Terminals (VLT). The majority of countries have legalized the practice, although some restrict it and impose strict regulations.

Regardless of whether or not gambling is regulated, online platforms make it easier for criminals to hide their activity behind the anonymity of the internet. Criminals can use stolen credit cards, fake identities and cryptocurrencies to gamble and withdraw “winnings.” They can also move money between different accounts to obfuscate the source of their funds. Online gambling can lead to financial problems such as debt, bankruptcy and a decline in work or academic performance. It can also cause emotional stress and social isolation. It is also possible to become addicted to online gambling.

While most research on gambling and problem gambling focuses on individual-level factors, some studies suggest that the choice of gambling modality may be influenced by aspects related to the gambler’s relationship network. For example, a study by McCormack et al. found that the low quantity and quality of relationships with family members increase a gambler’s likelihood of becoming a pathological gambler.

Because online gambling is a global phenomenon, it can be difficult to track the activity of players from different jurisdictions. This inconsistency can create challenges for authorities trying to combat illegal activities, such as money laundering. Fortunately, some tools can help law enforcement and financial firms identify red flags in online gambling transactions.