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The Future of Internet Gambling
Have you seen banners for websites offering games such as Texas Holdem, online poker, virtual slots, and more? Have you been tempted to click that signup button and take your chances? Before you do, there is something you should know.
Gambling online is not, for the most part, illegal in the United States. It may be illegal in your state, among the nine states who have made it their business to tell you how you can spend your money. And while you cannot use your Credit Card to gamble online, there are places near you, as close as WalMart, that will have you in and out of their facility with a pre-paid debit card. You choose the amount. It is NOT a credit card. Your debit limit is your funding amount.
Despite all the legal irregularities concerning online casinos, more Americans are now visiting them everyday, wagering real money. But many questions have arisen from the use of these sites. Are they safe? Are they fair? Can they be trusted?
One of the biggest concerns regarding online wagering is: how can these casino sites continue taking in and paying out money if they are not legal to operate in the U.S.A.? Actually, this is not a problem for most; they simply establish an offshore company, typically based in a Central American or Caribbean country, and conduct business from these friendly locales.
Countries catering to them benefit financially from this business arrangement, as they collect taxes, fees, and peripheral revenue from the companies operating within their borders. This is no small sum, as taxes on revenues generated from online casinos can easily reach into the millions annually. Are individual American states missing out on these revenue sources? You bet they are. The general consensus is that some states will soon take notice of these lost revenues, and move to legalize Internet wagers within their jurisdictions. Already, some gulf coast states are looking into ways to use online betting and casinos to take in more tax dollars. It would be no surprise if a state such as Louisiana becomes one of the first to start the process of legitimization. It will not be easy, but the benefits would be enormous. Many taxpayers would breathe a sigh of relief... even temporarily.
This is a certain fact: Americans love to gamble. Billions are wagered annually in pari-mutuel events such as horse and dog racing, on sporting events such as football and basketball, and of course in luxurious vacation spots such as Las Vegas and Atlantic City.
Restricting gambling has never worked, as the passion of the players has always won out. With the advancement of technology, Internet betting is taking up a larger piece of the gaming pie. Once online betting is legalized by the states, many offshore companies will be falling all over themselves to organize stateside, eager to pay taxes here instead of abroad. An additional benefit of state acceptance will be conformity to regulations, making online wagering a safer and fairer experience for everyone.
Regardless of legitimization by individual states, there is no doubt the popularity of online betting can only continue to grow. Want to bet on it?
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