Regulated online gambling platforms must follow strict rules that prevent underage users from using their services. It is not uncommon for underage players to pose as someone else and make their accounts on regulated sites. To prevent this problem, regulated sites must implement robust verification methods and strong Anti-Money Laundering processes. Regulations in the online gambling industry have changed dramatically since 2001, when the UK Gambling Act 2005 and Malta Gaming Authority were first established. These regulations were a step towards increasing consumer protection and protecting players.
Some states have enacted laws to regulate online gambling. France has recently proposed new laws to tax and regulate online gambling. In an attempt to catch up with the “Internet reality,” the country’s budget minister Eric Woerth declared that the country would allow gambling online while keeping betting exchanges illegal. However, the new laws do not restrict the use of Bitcoin for gambling. These regulations may not apply to all online gambling platforms. However, they do impact the amount of money players can win when they use the cryptocurrency.
In the United Arab Emirates, all forms of gambling are illegal. The state-controlled Telecommunications Regulatory Authority limits access to the Internet, including online gambling sites. People caught accessing online gambling websites face prison time if they are caught. In Lebanon, the government is empowered to censor online gambling websites. Iran is another country with strict online gambling restrictions. Using a VPN will enable you to mask your IP address and access content from countries where gambling is prohibited.
Regulated online gambling platforms provide jobs and tax revenues to states, but restricting access to them will not solve the issue. People who want to gamble will find a way to access them, or will use an unregulated site to gamble. The government should look into the laws to prevent such spillover of tax revenue. There is no guarantee that internet poker and sports-betting sites will be legal in most territories in the next couple of years, but there is a trend toward regulation.
In 2009, New York and Illinois lottery officials asked the DOJ for clarification regarding the legality of digital sales of lottery tickets. Despite these restrictions, it appears that this step will allow online poker platforms and other forms of internet gambling. Meanwhile, states like Massachusetts and Maryland should also be able to legalize online gambling. Hopefully, the legalization process will be smoother in the coming months. In the meantime, there is a lot of progress to be made. So, keep your eyes open!
Despite the legal hurdles, the Internet is a rapidly expanding industry. While the United Kingdom’s Gaming Act of 2005 removed most restrictions, some jurisdictions have yet to implement the new law, and online gambling is still unregulated in other countries. Despite this, the American Gaming Association, a trade association for registered sports betting companies, is lobbying for the industry. Regulations have largely been aimed at ensuring responsible gaming and anti-money laundering practices.