Statutes That Apply to Online Gambling
Online gambling has become a popular pastime. As a result, there are many different websites that offer a variety of games. These include sports betting, online casinos, and virtual poker. A number of these sites also offer free money to new players.
Some of the most common types of online casino games are slots, poker, and live dealer games. However, there are a plethora of other types of casino games as well. For example, there are horse racing betting sites as well as bingo sites. You can also find games that feature a combination of traditional casino games and the latest technology. There are even a few online casinos that provide an exclusive mobile platform to gamble on the go.
The Internet has transformed the world of gaming, bringing the convenience of casino gaming to the masses. However, the industry has also come under scrutiny due to the potential for financial fraud. Many of these companies are regulated by the UKGC, and you can find reputable casinos online. But, there are a handful of companies that aren’t.
One of the biggest concerns is the ability for internet users to wager on sporting events. In fact, this type of activity is illegal. This is because the Wire Act is a federal statute that prohibits unlawful gambling on sporting events. Also, the Travel Act bans illegal gambling on interstate commerce. While these two statutes have not yet been directly applied to the online gambling industry, they are the most likely areas of legal concern.
Fortunately, there are a few statutes that are specifically aimed at illegal Internet gambling. For example, Section 1956 of the Code of Federal Regulations is a good example of a federal statute that creates several different types of crimes. That is, it creates laundering to disguise, laundering to evade taxes, and laundering to promote illicit activity.
Another notable statute is the Unlawful Internet Gambling Enforcement Act, or UIGEA. This statute makes it illegal to engage in financial transactions involving a wager that is made in an “interstate or foreign casino, or by an agent or employee of a casino” or a financial transaction provider.
Other statutes that relate to online gambling include the Illegal Gambling Business Act and the Wire Act. Each of these has a different impact on the industry. Nevertheless, the UIGEA is a big step forward for the industry. It is designed to weed out the low level gamblers. Additionally, it identifies factors that will aid the government in spotting the sleazy, and thus weeding them out.
Finally, there are the laws relating to remote gaming. This is a fairly new concept, and while it isn’t as easy to identify as it would be in a brick and mortar casino, it is definitely a significant advancement in the industry.
There is a lot to be said about all of these, but the best thing to do is to research the specifics of your own state’s law to avoid making any unnecessary mistakes. And, don’t forget to keep a budget in mind.