The increasing growth of the online gambling industry exceeds all expectations when compared to land-based casinos and betting places. Since Internet Casinos, Inc., the first virtual online casino began operations in 1995 until now, not only the effect of online betting on the emerging land-based industry, but also the need to expand gambling laws and regulations. .
Most online casino companies are located outside the United States to avoid government prosecution because the United States Federal Court of Appeals has decided on the Federal Wire Act that prohibits the transmission of electronic information for sports betting across state lines, but there is no specific law prohibiting gambling in any form. In fact, some countries decide to support land-based gambling but have specific laws prohibiting online gambling of any kind.
While online has no limits, gambling seems to be controlled by physical boundaries. Gambling is legal and regulated in Caribbean countries and most European countries, such as Malta and the UK from which a wide variety of online casinos operate.
However, in America, the law says that having an adventurous casino or gambling-related business without first obtaining a license can be considered illegal, but if there are people who want to get it, but no country in the whole country currently provides online gaming licenses, and regulations vary from country to country.
The Government of Antigua and Barbuda, which Mpo11 internet gambling entities, sends complaints to the World Trade Organization regarding US government actions that prohibit internet casinos and gambling activities. They won the initial ruling but then the Word Trade Organization appealed and partially overturned the ruling in April 2005.
The appellate panel’s decision allows state laws to ban gambling in Massachusetts, Louisiana, Utah, and South Dakota, but ruled that the United States might also violate world wide trade regulations, which emerged as a result of American laws regulating horse racing betting because fair for foreign and domestic online betting companies do not apply.
With this panorama, online casinos are waiting for a decision; decision is full of ambiguity as the online gambling regulation world wide. The Caribbean Panel stated that some of the restrictions on online gambling imposed under American regulations are not consistent with regard to trade service agreements with the agency’s GATS.
The online casino economy is extraordinary Mpo11 with a land casino that costs up to $ 300 million to build, while online costs can be as small as $ 1.5 million, but the US Federal Law insists that gambling “risking something of value for profit whose return depends on opportunity”.
On the other hand, traditional casinos can employ thousands of people, while online casinos are easily operated by less than 20 people and do not have to be located in the same place, which causes economic impacts due to job loss; so many people believe that this regulation benefits the national workforce.