Everything You Wanted to Know About ONLINE GAMBLING and Were Too Embarrassed to Ask

As it stands today, individual states are absolve to prohibit or practice gambling of their borders while significant restrictions and limits are put on interstate which activity. Recently, online gaming has seen harsher rules. With the Unlawful Internet Gambling Enforcement Act of 2006 (UIEGA), it was not explicitly banned but rather it had been online financial transactions which were outlawed. This meant that online financial transactions from gambling service providers were now illegal which resulted in many offshore gambling operators excluding US clients from their services.

Existing in this legitimate grey area, it is no longer a dilemma of if online gambling will key in the US market but when and perhaps how. As lately as this month, three states have legalized online gambling and plan to begin offering bets by the finish of the year. Naturally, a gaming organization in Las Vegas referred to as Ultimate Gaming was the first to offer online poker but for now restricting it to just players in Nevada. New Jersey and Delaware have also legalized online gambling and so far ten other states are thinking about legalizing it in a few form or another.

Frank Fahrenkopf, president of the American Gaming Association has mentioned that “Unless there is a federal bill passed, we will have the best expansion of legalized gambling in the United States. I don’t think that’s what anyone intended, but it is what we’re experiencing.” This poses lots of questions not to mention concerns for most existing commercial casinos in addition to American policy makers. Will legal online gambling mean fewer people in brick and mortar casinos? Will this develop a new way to obtain revenue at the state and national level? Think about taxes and regulations? An increase in gamblers?

Many people including Arnie Wexler, ex – chairman of New Jersey’s Council On Compulsive Gambling has voiced concern that with all the current good this could do to generate income and revenue for individual states there could be problems with an increase in compulsive gambling. There is particular concern regarding social media in america as some locations like Zynga have already begun taking real-money bets.

Taking in mind the questions and concerns, many hotel casinos are already making ideas to extend into online gambling to complement their real casinos. Geoffrey Stewart, general office manager of Caesars Online Poker has said “Like any business, you’re always looking for what is the next distribution channel.”