Online Gambling Laws
Online gambling is the act of betting on games of chance or skill, for money, using electronic devices. Examples of online gambling include casinos, virtual poker, sports betting, and horse racing. However, many countries restrict online gambling.
There is an important distinction between legal and illegal Internet gambling. Legal Internet gambling is when you use an approved and licensed gambling service provider. Illegal Internet gambling involves the placement of bets without a license or permit.
In 1996, there were only fifteen websites that advertised online gambling. In 1997, there were over 200. And in 1998, online gambling revenues reached nearly eight hundred million dollars. Despite the fact that it’s hard to quantify the market size of the Internet, the revenue from illegal Internet gambling was large enough to spawn a bill in the US Senate.
But what laws are in place? The answer is a mixture of state and federal laws. Several states in the United States have legalized online gambling. For example, New Jersey offered residents the opportunity to bet on sporting events in the early 2000s. Other states are slowly but surely getting on the online gambling bandwagon.
Some countries, such as France, have proposed new laws to tax and regulate Internet gambling. Others, like New Zealand, allow online gambling in some jurisdictions. Whether or not these laws work, it’s important to know that the legality of online gambling is a matter of state law.
Online gambling has become a popular activity in the United States. For instance, many major internet bookmakers now offer betting markets on horse races.