Wednesday, December 19, 2007

Are all Casinos illegal?

The answer to the above question may have been a “Yes” four or five decades ago. However, today if you talk about online casinos, it would seem to be a very common affair. The reason why online casinos thrive these days is because of the mass indulgence and all thanks to the world of Internet. The Internet is finally here to stay and the easy accessibility to the online casinos has made gambling much easier than before. One of the best things about online casinos is that a person can gamble from home, any time he wants. Online casinos are more enjoyable than the traditional land based gambling houses and other betting rooms. To be more precise, the online casino gaming has a turnover of more than a million dollars a year. Even if one compares the rate of growth of online casinos with the land based ones at say, Las Vegas, the online ones surpass the profitability of the land based ones. However, one cannot miss out on the fact that most of the online casinos are located outside the US in order to avoid the federal rules and regulations. That’s because the United States Federal court has stated some prohibitions when it comes to online gambling. But at the same time, although many states in America promote the land based gambling casinos, the courts have imposed certain rules when it comes to gambling at online casinos. Therefore, most of the online gambling casinos are located in countries like the United Kingdom and some of the Caribbean countries. As for the rules imposed by the American federal authorities, if the online casino owner has not obtained the respective licenses and complied with the prescribed guidelines, the online casino that he owns may as well be illegal. One important thing to remember in this aspect is that the rules and regulations regarding online casinos vary from state to state. Speaking of online casinos, many websites disbanded advertisements of online casinos due to legal issues. Popular search engines like Google and Yahoo too were among these websites. Following the legal issues, even some banks and other financial institutions refused to make any credit card transactions that were related to gambling through online casinos. Licensed online casinos never face any problem with the federal authorities, but instead of being in a constant war against the online casinos, the federal government is expected to consider devising a tax plan, specifically for the online casinos and at the same time keeping a watch on any illegal activities such as underage gambling, credit card frauds, etc. For further details: