Online gambling refers to a number of types of gambling that can be played via the internet. It includes a variety of options such as online casinos, sports betting, race betting, online poker, online bingo and even electronic stock trading. It is one of the most popular hobbies in the world especially in the United States of America. You don't have to go anywhere instead sitting at home, with your computer you can access any sort of gambling anywhere in the world.
There are many controversies surrounding this online gambling regime. The foremost concern is basically of gambling being illegal in the United States federal law and the second key issue is violation of the ethical and moral values of the society. It is very strange that there is a UIGEA or Unlawful Internet Gambling Enforcement Act in place but still research shows that over 50% of online gamblers live in the United States. This is also a very important part of the controversy because the laws do not cover all the aspects of online gambling.
The first important aspect of this law is that you cannot operate an online casino, racebook or even sportsbook from within the United States. If an operator is based outside U.S, dealing with casino/poker wagers, he is totally safe. Taking bets on phone specifically for sportsbook whether onshore or offshore is illegal whereas taking bets online is a gray area with not clear regulation.
Payment facilitators such as PayPal and other credit card companies are nearly scrutinized by the law and could be possibly banned if found guilty. However, acts like advertising for internet gambling on major or minor media is relatively very less risky. As well as helping people making bets on a website. Buying advertising space as a poker room or casino is not risky at all. To top it all there are no risks or laws associated with making bets on the internet. No United States citizen has ever faced any charges on gambling online.
Because of all these factors, the online gambling industry is flourishing day by day. There are no legal restrictions of placing a bet online or advertising by a website or even facilitating people in making bets. The U.S based companies are shifting outside U.S or in those states where there are no particular laws on gambling online. In the absence of a strong law covering all aspects, internet gambling cannot be regularized.
Lastly, another big controversy with the online gambling scene is the tendency of fraud. Internet gamblers do not have any surety that they are playing a legitimate game and whether or not they are going to get a pay off. There have been plenty of incidences where credit card numbers were taken and funds were misused, ripping people off their hard earned money. Another issue that is mainly a state issue is of taxation. Since online casinos are neither regulated nor legal, they can't be taxed so the state is missing on the tax money.
There are many controversies surrounding this online gambling regime. The foremost concern is basically of gambling being illegal in the United States federal law and the second key issue is violation of the ethical and moral values of the society. It is very strange that there is a UIGEA or Unlawful Internet Gambling Enforcement Act in place but still research shows that over 50% of online gamblers live in the United States. This is also a very important part of the controversy because the laws do not cover all the aspects of online gambling.
The first important aspect of this law is that you cannot operate an online casino, racebook or even sportsbook from within the United States. If an operator is based outside U.S, dealing with casino/poker wagers, he is totally safe. Taking bets on phone specifically for sportsbook whether onshore or offshore is illegal whereas taking bets online is a gray area with not clear regulation.
Payment facilitators such as PayPal and other credit card companies are nearly scrutinized by the law and could be possibly banned if found guilty. However, acts like advertising for internet gambling on major or minor media is relatively very less risky. As well as helping people making bets on a website. Buying advertising space as a poker room or casino is not risky at all. To top it all there are no risks or laws associated with making bets on the internet. No United States citizen has ever faced any charges on gambling online.
Because of all these factors, the online gambling industry is flourishing day by day. There are no legal restrictions of placing a bet online or advertising by a website or even facilitating people in making bets. The U.S based companies are shifting outside U.S or in those states where there are no particular laws on gambling online. In the absence of a strong law covering all aspects, internet gambling cannot be regularized.
Lastly, another big controversy with the online gambling scene is the tendency of fraud. Internet gamblers do not have any surety that they are playing a legitimate game and whether or not they are going to get a pay off. There have been plenty of incidences where credit card numbers were taken and funds were misused, ripping people off their hard earned money. Another issue that is mainly a state issue is of taxation. Since online casinos are neither regulated nor legal, they can't be taxed so the state is missing on the tax money.
0 comments:
Post a Comment