Online gambling is a booming industry. Millions of people play games of chance for money each day on various platforms. However, the legality of this activity is debated.
Gambling is legal in most countries in the European Union, Canada, and some Caribbean nations. In the United States, however, gambling has been banned for a number of years.
Some nations have a ban on all forms of online gambling, while others permit gambling in specific forms. These include poker, online casinos, and horse racing betting markets.
Before the United States passed the Unlawful Internet Gaming Enforcement Act, there were about fifteen online gambling sites. A Frost & Sullivan report in 1998 showed that the online gambling industry was worth $830 million.
After the law was passed, a federal indictment was handed down against three of the largest online poker companies. The indictment charges them with money laundering and bank fraud.
A number of states have passed laws that permit residents to play poker online, wager on sports, or participate in other forms of gambling. Twenty states allow citizens to participate in state-run lotteries, and another twenty allow residents to wager on sporting events online.
Gambling is also illegal in some states, and many are concerned about the potential effects on their families. Those who are interested in gambling should be well-informed.
Legitimate online casinos must be licensed. If you are planning to place a bet, check the licensing information on the site before making a deposit. Also, read the rules carefully. Many legitimate online casinos allow you to self-exclude from their sites.