Short Story: The Truth About ONLINE GAMBLING

As it stands nowadays, individual states are free to prohibit or practice gambling within their borders while significant restrictions and limits are put on interstate which activity. Recently, online video gaming has seen harsher regulations. With the Unlawful Internet Gambling Enforcement Act of 2006 (UIEGA), it was not explicitly banned but instead it was online financial transactions which were outlawed. This meant that all online financial dealings from gambling providers were now illegal which resulted in numerous offshore gambling operators excluding US clients from their services.

Existing in this legal grey area, it is no more a problem of if online gambling will key in the united states market but when as well as perhaps how. As recently as this month, three states possess legalized online gambling and intend to begin offering bets by the finish of this year. Naturally, a gaming firm in Las Vegas known as Ultimate Gaming was the first ever to offer online poker but for now restricting it to sole players in Nevada. NJ and Delaware also have legalized online gambling and so far ten other states are thinking about legalizing it in some form or another.

Frank Fahrenkopf, president of the American Game playing Association has said that “Unless there is a federal bill passed, we will have the greatest expansion of legalized gambling in the United States. I don’t think that’s what anyone intended, but it is what we’re seeing.” This poses a lot of questions not to mention concerns for most existing commercial casinos as well as American policy makers. Will legitimate online gambling mean fewer individuals in brick and mortar casinos? Will this create a new way to obtain revenue at the state and national level? Think about taxes and regulations? An increase in gamblers?

Lots of people including Arnie Wexler, former chairman of New Jersey’s Council On Compulsive Gambling possesses voiced concern that with all the good this could do to create income and revenue for personal states there could be problems with an increase in compulsive gambling. There is particular concern regarding social media marketing in the US as some areas like Zynga have already begun taking real-money bets.

Taking in 1Win Bet and concerns, many hotel casinos are already making plans to increase into online gambling to complement their actual casinos. Geoffrey Stewart, general supervisor of Caesars Online Poker has said “Like any other business, you’re always looking for what is the next distribution channel.”

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