Legalization of Online Gambling
With advanced technology and the fast-paced development of the Internet, users all around the world can enjoy different variations of online gambling. Though online gambling in the form of online casinos and online sports betting has advanced a great deal and is extremely profitable, countries by and large have not warmed up to the idea of allowing gambling online.
There are almost 70 to 80 countries where online gambling is legalized and has prospered. In particular, countries have their own laws which deal with this virtual space.
Firstly, let’s understand why is it necessary for online casino and sports betting sites to follow local and international regulations and policies. It is essential to protect users so that they can play confidently without the fear of being exposed to dishonest practices.
Established licensing authorities ensure that a strict code of conduct is imposed on the licensees, and to maintain licenses operators have to adhere to regulations and policies. Some countries like Finland, Canada, Sweden, and Belgium do not give licenses to foreign casino operators and only have state gambling monopolies.
There are almost 39 countries where online casinos are absolute embargo. So if you are a traveling gambler check the ‘blacklist’ of the country’s first so as to avoid getting into any unfortunate situation.
In almost 93 countries the situation is very interesting as online gambling is neither permitted nor prohibited. These regions are known as ‘grey’ territories.
Let’s discuss online gambling laws, policies and regulations in different parts of the world.
Australia: The Interactive Gambling Act (2001) in Australia outlaws the operator of online casino games from any part of the world to the people of Australia. It is not illegal for the Australian gamblers to access and play at the online casino, only the operator who supplies the online gambling sites are targeted and considered illegal.
Germany: Online gambling is largely outlawed in Germany, but there are some exceptions of operators who have the license to supply online gambling services operating in Schleswig-Holstein.
United Kingdom: The UK is considered a paradise for online gambling. In 2005 a Gambling Bill was passed into law permitting online betting sites to have a Remote Gambling License so as to offer online betting to the citizens of the UK.
Who catered to UK players? It is not as easy as it sounds, picking an online gambling site you can play here and enjoy a huge range of online slots and live online casinos.
United States: In the United States, the legality of gambling varies from state to state and that is the reason behind it being debated. The bank limits the transactions with the online gambling sites which are unlawful under any federal or state law under the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). Some states like Nevada, New Jersey, and Delaware are in the ongoing process of legalizing online gambling and it is expected that regulations will be on a state to state basis. By 2020 more states have legalized online sports betting and many more, regardless of lobbyist attempts to prevent country-wide legalization.
In today’s time, the fact cannot be ignored that the online gambling industry can help to drive the growth of financial revenues into a local economy. The distinctive feature of online gambling is the application of technological elaborations which not only helps in improving the technology, burnishing it and continuously test the quality of software.