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Online Casino – General Legal Issues
The growing growth of the online gambling industry exceeds all expectations compared to land-based casinos and betting places. From the time when Internet Casinos, Inc., the first online virtual casino started its activities in 1995 until today, not only the effects of online betting on the established land-based industry have become apparent, but also the need to expand gambling laws and regulations. .
Most online casino companies are located outside of the United States to avoid government lawsuits, as US Federal Courts of Appeals have ruled on the Federal Wire Act prohibiting the electronic transmission of information for betting athletes across state lines, but there is no specific law. prohibiting gambling of any other kind. In fact, several states come out in favor of land-based gambling but have specific laws against online gambling of any kind.
While the internet has no borders, gambling seems to be governed by physical country delimiters. Gambling is legal and regulated in the Caribbean countries and in most European countries, such as Malta and the United Kingdom, from where many online casinos operate.
However, in America, the law states that owning an online casino or gambling related business without first obtaining a license may be an illegal act, but if a person is willing to obtain one, however, no state in the country currently grants online license. gaming licenses and regulations vary from state to state.
The government of Antigua and Barbuda, which licenses internet gambling entities, has sent a complaint to the World Trade Organization regarding the US government’s actions banning online casinos and gambling activities. They won the preliminary decision, but later the World Trade Organization appealed and partially reversed this decision in April 2005.
Appeals panel decision clears state laws banning gambling in Massachusetts, Louisiana, Utah and South Dakota, but ruled US could also violate global trade rules , as a result of US laws regulating betting on horse racing as fairly for foreign and domestic online betting companies are not enforced.
With this panorama, online casinos await their decision; decision full of ambiguities like the global regulation of online gambling. The Caribbean panel found that several restrictions on online gambling imposed under US regulations were inconsistent with the body’s GATS trade in services agreement.
The economics of online casinos are amazing compared to land-based casinos that cost up to $300 million to build, while online the cost can be as low as $1.5 million, but federal laws Americans insist that gambling “risks everything of value for a profit whose return depends in any degree on chance”.
On the other hand, traditional casinos can employ thousands of people, whereas an online casino is easily operated by less than 20 people and not necessarily located in the same location, leading to economic impact due to loss of jobs; so many people believe that regulation benefits the domestic workforce.
With the exception of state-sponsored gambling, including riverboat gambling, horse racing, and lotteries, an online casino is prohibited anywhere in the United States.
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