Understanding the fine print at online casinos!
Online gambling legality generally falls into a grey area. There are however many countries and jurisdictions that have opted to regulate online gambling for the purposes of deriving taxation revenue from them, and controlling illicit operations. The benefits of such practices are felt by online casinos and players alike. Just recently, the legality of online casino enterprise in the USA got a dramatic boost when 3 states in the US – New Jersey, Nevada and Delaware – decided to legalize online casinos.
Regulation of Online Casinos is a Worldwide Trend
Around the world, online gambling sites are allowed to operate in approximately 70 countries. These include Canada, Finland, Denmark, South Korea, Australia, New Zealand, France, Italy, Spain, the UK and beyond. There is a definite move towards regulation of online casinos around the world, inclusive of all minimum age requirements and responsible gambling codes of conduct. The legality of online casinos in the US is the least understood of all. There are several laws that have made it difficult, if not impossible for online gambling to gain nationwide legal status in the US. Two laws in particular – the US Wire Wager Act and the UIGEA are cases in point.
Legal Status May Affect Payouts
US players however are rarely if ever prosecuted for playing at online casinos – even if they don't operate in US cyberspace. The problem with playing at an online casino that is not regulated within the US is that American players will be unable to force the online casino to make payments when winnings have accrued. Should the online casino operator object to paying out – in the event of the big jackpot prize – the US player has no recourse. That is why regulation and legality of online casinos is paramount.