Where brick-and-mortar casinos are allowed, their financial benefits are clear. But the potential revenue from online activities is even greater, because so many more players are involved and there are only certain geographical limitations. However, there are some places in the world where online gambling is still not legal, and players don’t have the opportunity to legally enjoy casino games at their leisure.
Fortunately, the case for legalising gambling across the board is getting stronger, and increasingly more countries are waking up to the fact that legislation and regulation is a good thing, and that when utilised correctly, it is massively advantageous.
Global Online Restrictions Differ
Currently, online gambling regulations vary in different parts of the world. In some nations, it is permitted. In others, online casinos that are operated and licensed from within their borders are prohibited, but those outside the country are accessible, which is fantastic for players who can take full advantage of this situation. For a few countries, sites operated internationally or by the government’s discretion are permissible.
For US players, things are not so simple. There are definitely still trustworthy sites, but they are far fewer. They are also much likelier to be shut down by the government, which is what happened to the 3 biggest Poker sites in 2011.
The Pros of Legal Online Gambling
Essentially, making Internet-based sports betting and casino gaming completely legal globally (or on a country-by-country basis) would allow for much greater regulation. If the market were completely open, all sites would need to be endorsed by trusted jurisdictions. Players would be better looked after with far more transparent casinos and bookmakers, and if anything went wrong they would have appropriate recourse.
In these free markets, monopolies could and should be prevented, thus stimulating entrepreneurial and the economic benefits that result from this. This is what is happening in Sweden, where new legislation that will allow many more international operators are expected to be rolled out in 2019. As each site vies for attention, players will benefit from better bonus offers. People struggling with problem and addictive gambling issues could also be better identified, and directed to the appropriate help services.
Besides all of that, there are other strong monetary reasons to legalise online gambling too. Taxes on players, bettors and operators could boost revenue considerably, and thousands of jobs would be created. From computer programmers to customer service liaisons, several different skill sets would be needed so many more people could be employed.
Proven Benefits for Legal Gambling
Many countries are changing their online gambling laws, and other countries are moving in that direction too, as the benefits to doing this have already been seen. Where gaming and betting are more regulated, and open, the government earns more taxes, and the overall economy is better stimulated, with players properly protected from rogue sites.
Lately the situation in the USA has also been improving, although it still has a long way to go. From 1992 to 2018 the Professional and Amateur Sports Protection Act (PASPA) banned sports betting everywhere except in Nevada, Delaware, Montana and Oregon.
The Supreme Court overturned PASPA in May 2018, and States can now decide for themselves on the lawfulness of sports betting within their borders. New Jersey and Mississippi have already allowed it; Rhode Island, West Virginia and Pennsylvania are at various stages of drafting regulations and getting approval. And, it is widely expected, more states will follow suit.
Experts estimate that the USA’s online sports betting industry will generate annual revenue of $6.3 billion by 2023, and similar profits are expected for other territories where the practice is legal. This is not even counting online casinos, which are thought to make as much in two weeks as Macau or Las Vegas do in a year!