Short Story: The Truth About ONLINE GAMBLING

December 12, 2023

As it stands right now, individual states are free to prohibit or practice gambling within their borders while significant regulations and limits are placed on interstate and this activity. In recent years, online game playing has seen harsher regulations. With the Unlawful Web Gambling Enforcement Act of 2006 (UIEGA), it had been not explicitly banned but instead it was online financial transactions which were outlawed. 1Win meant that all online financial dealings from gambling providers were now illegal which resulted in several offshore gambling operators excluding US customers from their services.

Existing in this lawful grey area, it is no longer a dilemma of if online gambling will enter the US market but when and perhaps how. As recently as this month, three says have got legalized online gambling and plan to begin offering bets by the end of the year. Naturally, a gaming company in Las Vegas known as Ultimate Gaming was the first ever to offer online poker but also for now restricting it to just players in Nevada. New Jersey and Delaware also have 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 Video gaming Association has stated that “Unless you will find a federal bill passed, we are going to have the greatest expansion of legalized gambling in the United States. I don’t believe that’s what anyone intended, but it is what we’re discovering.” This poses lots of questions not to mention concerns for most existing commercial casinos and 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 hawaii and national level? What about taxes and regulations? A rise in gamblers?

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

Taking in mind the questions and concerns, many resort casinos are already making programs to broaden into online gambling to complement their real casinos. Geoffrey Stewart, general office manager 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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