New Jersey, Nevada, and Pennsylvania Legalize Online Gambling
Unlike gambling in land-based casinos, online casinos are accessible to gamblers around the clock. While traveling to Las Vegas and driving to a local casino can be a daunting task, online gambling offers the convenience of gambling from home. Not only is it convenient, but it also makes it possible for anyone to indulge in gambling without leaving the house. High rollers are also a large part of online gambling’s operation, with online casinos generating the majority of their operating revenue from these gamblers.
While the online gambling industry is maturing, there are still rogue operators. Legislation is catching up and is now ready to enforce online gambling laws. Fortunately, there are ways to combat these rogue operators. Third-party review services for online casinos take a cut of the conversions that they make. This means that players can rest assured that their money will be safe. In addition to protecting themselves, these third-party services ensure that their customers’ privacy is secure.
While federal law governs online gambling, the state governments retain the authority to regulate it. For example, if a casino specializes in poker, a state law may disallow online casino games, but allow horse betting. While most states prohibit online gambling, there are some exceptions. Three states, including New Jersey, have passed legislation that makes the online gambling industry legal. Nevada is the only state that has a fully operational online gambling site, while Pennsylvania has a regulatory board that oversees the industry.
While most online gambling laws prohibit a particular game, those involving skill have a specific carve-out in the 2006 UIGEA. Because of this, online poker and fantasy sports betting are legal in Nevada. Moreover, players can use online poker and daily fantasy sports betting for entertainment purposes. There is no question that the internet has become the place for recreational gambling. If more states follow suit, the industry will continue to flourish. In the meantime, regulators will continue to monitor the industry.
New York has a long way to go to legalize online gambling, but for now, it’s a good time to start a discussion in Congress. The state government has a lot to learn from New Jersey’s successful legalization of online poker. Ultimately, regulating online gambling is the best way to protect American consumers. So, how should the state regulate it? And what should be done in the meantime? A federal law is necessary to ensure that the industry stays legal and profitable.
Although Mr. Adelson sees online gambling as a train wreck, a recent study conducted at Harvard Medical School suggests that most people who play online gambling in the U.S. are moderate and only spend a small portion of their money. Online gambling is also easier to regulate than gambling in a live casino. Ultimately, it’s a matter of balancing the benefits and the drawbacks of each method. However, be warned that online gambling is an addictive activity and should not be taken lightly.