Gambling online was a luxury long ago but not anymore. Some people take gambling as a hobby while some take it seriously as if it’s their profession as there are gambling regulations now in place.
Stepping into the world of gambling isn’t a walk in the park because you have to take certain things into consideration. The most important of all, does your country allow to gamble online?
Gambling online in a country where online gambling is banned can penalize you and cause you serious problems which is why you need to check if your country considers online casinos legal or not.
To see if your country allows online gambling you need to be aware of 4 terms. These 4 terms are:
Legal: It is safe to gamble in a country where betting is fully legal. In such a country anyone can start a gambling business or/and gamble online.
Legal But Requires License: In these countries, online casinos and online gambling is legal, however, the online operator (website owner) needs to apply for a license. If the government grants them a license, then gambling through that website is legal. It can be risky to gamble on websites which do not have a license because there’s a risk to lose your money if things go south.
Not Regulated: These countries have non-regulated online gambling permission. Meaning, it’s not decided yet if online gambling is legal or not.
Illegal: Some countries clearly define gambling as illegal. However, there’s another term associated with illegality of online gambling, prosecution.
Some countries prosecute players for gambling online despite of it being prohibited. The prosecution can be jail time or a huge fine. However, there are countries where gambling may be illegal but players are not prosecuted. Instead, the gambling operator is.
Know more about gambling regulations in the US and other countries. You need to make sure to gamble only when it is legal to gamble in your country.
U.S Online Gambling Restrictions
Let’s talk about the U.S. Today, online gambling in the U.S is considered as a misdemeanor in most of the states except a few, however, long ago it was a felony to play poker in the Washington State. Still, more than 70% of U.S population is involved in online gambling activities because it is not possible to track every single one of online gambling activities.
A law was passed in 2006 that made U.S a country where transactions associated with online gambling in the country were denied and gambling regulations were completely changed. This law was called UIGEA – Unlawful Internet Gambling Enforcement Act. After the law was passed, many players and operators lost their chance to gamble online. This step was taken because despite of having online gambling declared illegal, people were still involved in gambling and huge transactions were happening.
The UIGEA rules came into effect in 2010 and stirred up the online gambling system in the U.S. However, it wasn’t much longer when credit cards like Amex credit cards were used that had low rejection rates when a person tried to sign up, withdraw or deposit money from an online casino.
Offshore Gambling Restrictions
Gambling is an addiction which is why many gamblers tend to get signed up with offshore gambling companies if their own country restricts them from gambling. Our list of top 10 casinos contains several casinos that are reliable and located in different parts of the world. However, offshore companies pose a risk. You put your money at risk when you pick such a company because you aren’t covered, and sadly gambling scams are common.
Other than that, offshore companies might be running on a different currency than your country’s, therefore, you will have to trade currencies to deposit and withdraw money or pay for conversion, making it more expensive to play.
It is important that you learn about the different restrictions regarding online gambling so that you can play safe and invest money at the right place. Gambling regulations keep changing and having knowledge about gambling regulations can make tonnes of difference.