Every country has different rules when it comes to regulating the gambling industry. The aim is always to protect those who are members of online sportsbooks and casinos. However, it is the level of the regulations that varies the most.
In the UK, it has been possible to gamble in land-based bookmakers since the 1960s. The gambling industry has seen plenty of changes since then, most notably the arrival of the internet and mobile devices. Now you can play online casinos that accept e-wallet payments like Paypal. Technology has come a long way. Money is credited immediately to the account.
There have always been rules set in place for the UK gambling industry. At one time, the bookmakers seen in the High Street couldn’t have their customers visible from those walking past the shop. There were none of the adverts that are seen in windows and the opening hours weren’t as long as they are now.
The 2005 Gambling Act is currently being reviewed by the UK government. It’s admitted that this legislation is outdated because of the changes in the industry. Already, gambling companies need a license from the UK Gambling Commission (UKGC) if they wish to be able to operate legally.
It’s often been said that the UKGC hasn’t acted tough enough in the past. That cannot be said now though as they take strong action against those companies who are breaching the terms of their license and the 2005 Gambling Act. Heavy fines and suspensions have been issued by them and rules are being tightened.
As for the government, they are going to introduce “strong measures” particularly when it comes to online casinos and slot games. Possible action is an increase in affordability checks to ensure players can afford their spending levels at online gambling sites. Restrictions on maximum stakes on games and cutting back on sponsorship and advertising are also possible.
With regulation increasing in the UK, it is not surprising therefore that many companies are looking to expand the US side of their business. This has been happening in the four years since the landmark US Supreme Court judge ruling on gambling in the US.
Now it is the individual states who can decide for themselves if they want to legalize gambling, particularly online. Over 30 have done so but gambling companies cannot open up in a state unless they have been granted a license to do so.
That’s important for all parties concerned. The state charges a high amount for the issuing of the license. The company now has the chance to make millions of dollars via their sportsbook. It’s good for the gamblers themselves because the regulation gives them the protection they didn’t have when signing up with illegal or offshore sites.
Accepting underage players as customers is definitely a route not to go down. Some states pass laws that do not allow betting on certain sports such as college football. Protecting the integrity of sport is very important to Americans.
There are still plenty of states that are yet to legalize sports betting. This is when gamblers often have to either travel to a state where it is legal or use a VPN to be able to bet on sites in other states. That’s not legal and if caught, it’s also bad news for the gambling company that allowed such activity to take place.
American gambling companies aren’t subject to regulations as tough as in the UK and some other European countries. However, they know that they cannot step out of line or their operating license will be lost.
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