When it comes to gambling, the USA is one of the most challenging countries in the world. Besides the increasing number of casinos in the state, online gambling is making tides in the gaming industry. The incredible thing is that the new laws and regulations have declared online gambling legal.
The recent changes in the laws, especially the repeal of PASPA and the lobbying from a large number of gaming companies, the US market has started legalized and regulated gambling. Well, it is excellent news for all the US gamers.
You will be surprised to know that a recent study declared the US gambling market as the second largest gambling industry in the world with an estimated revenue of $25.43 Billion per annum. Since gambling has become widely popular in the state, the number of brick-and-mortar casinos and online gambling platforms has drastically increased.
Speaking of online gambling, unfortunately, online players are facing great difficulty in determining the trustworthy sites. Do not forget that there has been great chaos with gambling operators taking gamer funds with malicious software.
Gambling Laws & Regulations
The US gambling rules and regulations vary from state to state. In other words, gambling laws differ in every state. For instance, the gamers who play in the casinos located in Nevada and New York have more limited options than other states; this is probably because of the more strict gambling regulations.
Is Online Gambling Legal in The USA?
Every gamer or player in the United States would have this question in mind. If that is the case, then there is good news; online gambling is legal in the USA. Moreover, there is no specific law or regulations that bind the gamer from gambling online.
More interestingly, there is legal and regulated online gambling in most state of the United States, including Delaware, New Jersey, and Nevada. Besides, no gamer faced charges for online gambling in the US. It is highly unlikely to happen, especially with the current laws and regulations.
However, the US government has implemented several laws that restrict casino operators and banks from offering gambling services to gamers. Besides Title 31, the two main rules regarding online gambling in the US include the UIGEA and Wire Act.
The Unlawful Internet Gambling Enforcement Act, or UIEGA for short, is a bill George W. Bush passed in 2006. UIEGA focuses on restricting banks in the United States from processing transactions related to online gambling in the country.
The Unlawful Internet Gambling Enforcement makes it illegal for financial institutions to approve any financial transaction of a customer depositing in any online gambling site.
In the beginning, many casino operators and gambling companies do fall under this law, which signaled the end of an unregulated market. Besides this, these companies lose billions of dollars. UIGEA had a small impact, but it cleared the way for small yet legal companies to achieve prominent positions in the gambling industry.
The second gambling law, The Federal Wire Act, came into law in 1961 with a focus on making interstate gambling illegal in the country. Including eight bills under the Inter-State Anti-Crime Acts, this law came about for traditional gambling and not for online gambling. However, the inception of the intention led to the repurposing of the Federal Wire Act. However, it is imperative to mention here that the Wire Act focuses on sports betting.
The Outlook for Gambling in the US
The US Government has made several attempts to control online gambling for gamers, even though it generated tax revenue. However, the recent trends anticipate that the state will introduce more regulated gambling.