Honestly I use both..it's one of those terms that people spell both ways..
if you are talking about SEO,
Currently:
Google shows
43 million pages for - "web cams" and only 24 million pages for "webcams"
Yahoo shows
49 million pages for "webcams" and 40 million pages for "web cams"
I dont know if that helps make the decision for ya...and like I said before, I use both, but I can't really say I can see much difference in the results.
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