The Controversy Surrounding Online Gambling Regulation

The regulation of online gambling has been one of the most controversial topics of recent times. Since the inception of the industry in the late 1990s, jurisdictions, lawmakers, organizations and individuals all over the world have debated whether it should be completely legal and regulated or banned entirely. The United States is arguably the biggest center of controversy due to the UIGEA (Unlawful Internet Gambling Enforcement Act) enacted by President Bush and a republican-led U.S. Congress. Although the UIGEA does not specifically forbid American players from gambling online, it does speak highly of the disdain many U.S. politicians have for the industry. Ironically, even with this legislation in place, research shows that well over 50% of online gamblers worldwide reside in the United States.

UIGEA Reception

The initial reaction to the UIGEA can be compared to that of Prohibition back in the in the early 1920s. It was similar in a sense that several publicly regulated offshore online casino operators abandoned the American market in fear of punishment from lawmakers. However, the drastic market shift that left players with fewer gaming options simply directed them to privately owned firms who were not afraid to accept wagers from U.S. citizens. For this reason, critics of the bill have frequently remarked that the UIGEA really does nothing to stop internet gambling for the simple fact that players can seemingly always find a loophole that allows them to play online betting singapore somewhere. Jurisdictions such as Antigua and Barbuda have labeled the UIGEA and other legal actions taken by the United States as discrimination against online casino operators and a breach of international free trade. Battles have already been won against the U.S. and several more countries are planning to file complaints because it continuously fails to make efforts to comply with WTO’s (World Trade Organization’s) filing back in 2005.

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The United Kingdom, Belgium, Italy and many other nations have decided to regulate and tax the online gambling industry instead of outlaw it completely. In fact, several countries, including Germany, Sweden, Finland, Denmark and The Netherlands were warned back in 2006 by the European Commission for allowing local lotteries to offer sports betting, but preventing other operators from doing so. Charlie McCreevy, EU Financial Services Commissioner, recently hinted that more nations could be added to the growing list of juristidtions currently pending legal ramifications for refusing to open their markets to online gambling.

The Battle Continues

Recent studies conducted by the British government reveal that there are nearly one million avid online gamblers residing in the country. These players account for an estimated one-third of Europe’s approximate number of 3.5 million people who gamble online. When combined with nearly 20 million online gamblers in the U.S., you have a rather large group of global supporters that help to power the billion dollar per year industry that has become the internet gambling market. Players everywhere want a piece of the action so until viable agreements are reached, online gambling jdl688 sg regulation will likely be a controversial matter for some time to come.

 

The online casino industry evolved right along side the internet and today it is at the pinnacle of popularity. In a short period of time, online casinos have quickly become a multi-billion dollar market. In fact, there are successful casinos all over the world. People choose to indulge in online casinos for a variety of reasons. Some love the fun and excitement while others appreciate the comfort that comes with being able to play in your own home. Outside of entertainment, many players are motivated by the potential wealth and prestige that can be obtained from winning. Some of today’s most famed poker players have made their name from online casinos, proving that the internet version can be just as, if not more profitable than the real deal.

Getting Started

There are essentially two ways you can participate in online casino gaming: play online via a web-based software program, or download the application onto your computer. The online software allows you to get started right away while the downloadable version usually offers better image and sound quality. If you choose to download the software, you will then be guided through the process of creating your account, which can usually be done right through the program interface. Most casinos prefer credit and debit cards but also accept alternatives such as bank wire transfers and online payment services. Of course you want to be cautious here and make sure you are dealing with a reliable company. You must have a clear understanding of all the payment details and know when and how you will be paid. Once all goes well and you have funded your account, you can start playing right away.

Bonus Offers

It is a wise move to make yourself familiar with the bonus stipulations if that is what you signed on for. The online casino market has grown considerably and inherently they have become quite competitive. To reel in new customers, many casinos offer bonuses that are added to your initial deposit. The bonus can range anywhere from 10% to 100%. These incentives often sound attractive but there are usually requirements that must be met before cashing out. You definitely want to read over the bonus conditions because sometimes cashing out can be next to possible.

Finding a Casino

There are hundreds of online casinos available to the player, making it difficult for the newbie who has no idea of where to go or who to trust. You certainly need to be weary as the industry has been tainted by fraud and many of scams. When searching for a casino, some factors you want to consider are:

Rules: Player abuse is a major problem in the casinos so different rules are often enforced and they may affect you directly. You also want to have an understanding because the rules vary among different types of games.

Fees – There may be other fees involved apart from funding your account. Before signing up, make sure you know if any transaction fees exist, and if so, how much.

Legalities – One thing you just can’t overlook is the legal issues tied to online gaming. It is advisable to first make sure the casino is licensed, and if online gambling is allowed in your city, state or country. Taking care of this can spare you a lot of grief in the end.