With all the changes that have impacted the iGaming industry in recent years, players continue to ask themselves whether online gambling is legal.
The reality is that while globalization aims to erase borders and achieve equality, today more than ever our rights and opportunities are dependent on where we live.
In fact, one doesn’t need to be a keen gambler to notice the significant growth that has occurred in the industry over the past decade.
The events now operating are testament to its unparalleled success and, importantly, new festival venues are constantly being added to an already extensive database.
The rise of cryptocurrencies has not only ushered in a new era of internet gambling development, it has also called into question the entire concept of legality, as betting with Bitcoin and similar digital assets is not the same as betting with real money.
Different views on online gambling
It’s safe to say that the European market remains one of the most open and profitable on the world’s iGaming map, as close cooperation between countries helps companies meet the needs of various jurisdictions scattered across the old continent.
Get the whole idea right. Alarmed that many players were turning to online casinos located elsewhere due to the country’s limited range of software providers and some restrictive terms, the Singapore Gaming Authority opened its license to all interested foreign operators Apply.
Even the Netherlands has recognized the importance of a strong and non-monopolized iGambling market and has begun to enact more liberal legislation to allow international brands to enter the market.
However, even with the good news, there are some drawbacks. Therefore, at least within the EU member states, there is no comprehensive agency to promote unified standards.
Overall, the regulatory environment for online gambling has improved globally, but some key regions around the world still have no regulation or outright intolerance of games of chance. There are also countries where legislation is quite clear and confusing.
Even the toughest restrictions can’t stop punters and their favorite pastime: the big international sites can’t ignore the huge populations of China, Russia or Indonesia, so they make certain (successful) efforts to reach out to those who live there of customers.
There is consensus that a regulated market based on a strong jurisdiction is a safer place for players, who can be treated fairly and fairly and can rely on the relevant authorities for help in the event of a dispute with a casino.
This is exactly why the gambling community is looking forward hopefully to the introduction of sensible and constructive gambling legislation around the world.
Internet Gambling Law
Online gambling has really only been around since the mid-1990s, with the first online casino opening in Antigua.
Naturally, people flock to it because it’s so convenient to be able to play a few hands of cards or spin a few reels from the comfort of your own home, especially when the payouts are just as real as in traditional land-based casinos.
Since then, the Internet gambling industry has grown at an astonishing rate, and many Internet gambling companies have prospered and are now publicly traded around the world.
In terms of services, the top gambling portal has gone one step further with live dealer programs and engaging content available to all mobile devices. Having fun anytime, anywhere has quickly become a driving force for innovation.
Across the globe, it took legislators a while to realize that something new was going on that required an entirely new set of rules, the likes of which they had never seen before. Even areas that already had state-sanctioned gambling industries were caught off guard.
Gambling without stamps
There are many complexities surrounding the interest in promoting new legislation to ban or regulate online gambling. The most obvious is the moral argument – many countries have a segment of the population who believe gambling is evil and should be banned outright.
Another interest group is the existing owners and operators of traditional land-based casinos. Some experts estimate that online gambling is an industry worth over $84 billion a year – and that money must come from somewhere. Logically, a large portion must come from market segments that were once forced to go to casinos but now no longer need to.
As a result, in some areas, traditional casino owners have a vested interest in undercutting the online gambling industry. This situation is even more serious in countries where the gambling industry is entirely state-run. In these countries, online gambling may actually pose a threat to national public revenues.
allies
Fortunately, not everyone wants to shut down the online gambling phenomenon. Many countries realize the potential it brings and are looking for ways to regulate it like other gambling businesses.
Because the Internet has created a global community without borders. Countries are often looking for ways to allow foreign online gambling countries into their territories, but at the same time be able to regulate (and if necessary restrict) the practices in operation.
How does a person exert control over entities outside his or her boundaries?
While this issue will undoubtedly be the source of debate and legal battles for many years to come, many regions around the world are looking at ways to license and tax the online gambling industry, creating a win-win situation for players and governments alike.
Of course, other countries seem determined to legally return to the Dark Ages. One thing is for sure – people love gambling. Therefore, it seems inevitable that legislation will ultimately serve the people.
