The United States is a country of contrasts; casino also got to the list of the burning issues. Whereas Nevada is a national gambling symbol, some of the states impose strict restrictions even on the online casinos. At the same time, recent tendencies in the American online gambling market look quite promising. So what’s awaiting us in the nearest future?
Traditional Casino Vs. Online Casino
You probably think that any gambler who has been to a real casino hall even once will not ever exchange this atmosphere to its online version. Indeed, nothing can permitted to placing your bet on a real wheel with the help of a professional croupier in a classy tuxedo or pushing the buttons on slot machines, enjoying old-school graphics and sounds. However, the situation is the following: starting from 1994, when online gambling was first introduced to the wide audience, its popularity kept growing.
According to statistics, around 90% of the American gamblers easily switched from a traditional casino to the online platforms introducing the same services. At the same time, 85% of the US gambling niche income is generated by its online segment. On average, the industry of sports betting reaches the exorbitant figures – $400 billion a year. Considering the rise of new RTG casinos 2019 and online poker, you can easily notice a strong demand for more online gambling portals. This might happen really soon!
The Current Situation in The US Online Gambling Market
It is obvious that the US cannot impose a strict federal ban on online gambling. The only obstacles may exist on the state level, where the situation is quite paradoxical. Depending on the state, the national operators have to satisfy a long list of the legal requirements to get a proper license.
What Do We Know About the State Restrictions Around the Country Today?
●Most of the online casinos will not let in those who are under 21.
●The Wire Act (released in 1961,reinterpreted in 2011) doesn’t allow sports betting if the transactions across the state border.
●Unlawful Internet Gambling Enforcement Act (released in 2006) allows online poker unless not prohibited by the state;
●Online casinos are permitted in New Jersey, Pennsylvania, and Delaware.
●Online poker can be played in Nevada, New Jersey, Pennsylvania, and Delaware.
●Sportsbooks online can be legally used in West Virginia, Rhode Island, New Jersey, and Pennsylvania.
How about the other services functioning in the states not mentioned? Most of them are stuck on the stage of exploiting virtual money only; this caused an accelerated growth of e-wallet popularity.
Now imagine how many people cannot reach the market due to governmental policies. As well as operators, who are not allowed to go into business because of the tricky legislation in the vast majority of the states. The potential for industry growth here is immense, and it is the matter of time when the industry will fully blossom.
Why It Is the Way It Is?
It seems that the endless war between the operators and the state laws is getting tense: many of the gambling icons keep pushing the respective bills about partly legalization of online casinos. You may wonder, what’s the main reason behind such aggressive policies? Well, as always, it’s all about the money.
The milestone to block the decision-making process on a state level is taxation rates for the online casino operators. Some of the fees make it clear that the government would like to benefit from the business as much as the actual providers. Negotiating about the compromise is lasting for a few decades right now, and heaven only knows how much money was potentially lost.
Apart from the concept of willingness, there is also a place for the puzzling legislature. If you want to dive deep into the “state bans” on the online gambling, you may encounter some inaccurate statements irrelevant to the 2019 situation. Thus, fixing them in accordance with the party’s interest will not be a major challenge.
What Is the Forecast?
Despite a few legal opportunities, the online gambling niche in the US is blossoming.
This business will soon reach its peak and will demand some more room for expanding its influence and audience.
In the nearest future, we can expect the following improvements:
• Cyber currency is a big deal today; thus, it is becoming a tool to omit legal restrictions. Such manipulations can also refer to the e-wallets not mentioned in any law so far.
• There is already a precedent of 3 states being on board with online gambling regulation. Hopefully, such influencers as California, Colorado, New York, and Washington will be able to follow these steps and proceed with the legislature needed by 2021. This will for sure provoke other states looking for a similar solution.
There is nothing to hold the industry from further development. What is more, the US government already feels the tension, which makes it hard to ignore the current size of the niche. Recognizing the providers’ needs will resolve lots of issues related to illegal gambling. This should be a minimum benefit the federals can’t resist.