Gambling on the Internet is a fast growing industry. Millions of people gamble online on a daily basis in a variety of ways. However, the legality of these activities remains a question.
There are a number of factors that affect the legality of gambling on the Internet. These factors include: state, federal, and international laws. Additionally, the public sentiment of the United States plays a large role in the legality of online gambling.
The federal government has not taken a position on whether or not it is legal to gamble on the Internet. However, many have expressed concern about the possibility of the Internet being used to bring illegal gambling into their states. One way to combat this is to prohibit the acceptance of financial instruments from illegal Internet bets. Several publicly traded internet gambling companies have taken this stance.
In December 2002, the General Accounting Office (now the Government Accountability Office) released a report, Internet Gambling: Overview of Issues. The report is based on the aforementioned CRS Report RS21984 and includes an extensive list of citations to various state gambling laws.
The CRS report also included a section on the Unlawful Internet Gambling Enforcement Act (UIGEA). This statute was enacted to prevent the transfer of money to or from online gambling sites. It is important to note that while the UIGEA is a federal law, it is subject to interpretation by the state legislatures, which could mean a different set of rules.
The same CRS report RS21984 also included an abridged version of the same aforementioned report. Among its contents, the abridged report included a short, but sweet list of the most notable laws and statutes pertaining to online gambling.
While the aforementioned CRS report RS21984 cites a handful of laws, there is no single law that has been identified as the “best of the bunch.” Likewise, the most interesting laws are the ones that have not been widely studied or cited. Nevertheless, it is a good idea to read through the aforementioned report for a comprehensive overview.
For instance, one of the most impressive laws is the Unlawful Internet Gambling Enforcement Act, or UIGEA, which makes it illegal to transfer or receive funds for unlawful online gambling. Another law, the Travel Act, has the added benefit of regulating remote gaming.
As with any other law, there is much debate on the legality of online gambling. Some argue that the best approach is to allow the free market to determine what is legal, while others argue that governmental intervention is necessary to protect the public. Despite these opinions, there are a number of reasons to gamble online. Firstly, the majority of internet gambling sites do not pay taxes to their home countries. They also tend to be run by small, virtually unknown companies. Secondly, the operational costs associated with running an online casino are very low. This allows them to offer a higher payout.
Finally, it is a fact that there are a number of reputable and licensed online casinos. But it is important to make sure that the site you choose is legitimate. Ensure that it has a license, and a good monitoring system. Choosing a reputable site will ensure that you get your winnings in a timely manner, as well as providing you with a local customer service team if you need them.