Online gambling is any kind of gambling that is conducted online. This includes casinos online as well as live casinos and betting on sports. The first online gambling site accessible to the public was ticketing at the Liechtenstein International Casino in 1994. There have been many other online gambling websites since then.
Online gambling has expanded into the US. It has also become an important industry in the US and supports numerous famous sites operating in all 50 states. The revenue generated annually by the internet gambling industry is estimated to be billions of dollars. The millions are used to fund online gaming in states such as Nevada and California. These two states are responsible for more than 25% of global gambling revenues. These states do not just have a flourishing gambling industry online, but they also have highly-regulated online casinos and sports betting.
USA Today recently featured Las Vegas Sands Corp.as one of the biggest online gambling companies in the country in an article. Steve McKee, a journalist at USA Today, wrote the article. Mr. McKee provided detailed information on how the Sands Corporation manages its funds and runs its business. Mr. McKee further stated that the Sands Corporation pays taxes to the Internal Revenue Service on behalf of the shareholders. The Sands Corporation also has a public gambling law that protects poker and other card games.
Online gambling is a grey regulatory space that is shared by the federal and state agencies. States such as Tennessee have attempted to pass bills to regulate online gambling however, they have not been successful. It has been noted that gambling on the internet is already illegal in many US jurisdictions.
One of the biggest challenges facing gamblers who play online in the US is the random number generator used in most casinos. The random number generators in most casinos are designed to ensure fairness when playing however, the random number generators are often designed to generate an unlimited amounts of cash for the casino owners. Casino games on the internet have a greater chance of random number generators being influenced by outside forces. An employee of an online casino could commit a mistake in a casino game and win hundreds of dollars. The casino then examines its “wins” and tries to make improvements to the software that regulates casino games. The consequences of not making the needed modifications could be disastrous for games played online.
In the US there are currently three states that have enacted laws that prohibit casinos on the internet from using computer generated numbers for gambling purposes. These laws are known as the “Gambling Reform Act”. New Jersey, Nevada, Connecticut and others have passed laws prohibiting casinos online from using electronic devices to facilitate online gambling. In the past, the Internal Revenue Service and other authorities throughout the US have issued cease and desist notices to online casinos which were found to be in violation of the law. This is often referred to as the “ICCA”. These laws are followed by all poker and gambling rooms.
Online gambling gives gamblers more games than casinos that are located in the real world. Online casinos offer free casino games, tournament games, and high-roller games for players to play to have fun. Most of the time, these online games are available for no cost. Certain gambling websites on the internet offer “cash back” promotions in which your initial deposit is paid off a certain percentage of all gambling activity.
There are many who love to gamble online because of the internet. There are many gambling apps online that are available to download from the Apple iTunes store and the Android Market. These apps allow you to not only bet but also chat with players as you play your favourite online games. It is easy to find and research new gambling websites online to register with and join the game. Be sure to practice ethical gaming to avoid being reported to authorities.