Online Gambling By: T.J. Bridges

Popularity of Gambling Who has gambled in a Casino in the last year? Who has gambled online in the last year? Has gambling became more accepted in the last years?

The Gambling Industry Traditional Gambling 51 Billion in Revenue last year, over 400k employees, 260 separate businesses Commercial Casinos operate in 23 states, including Ohio and Indiana Online Gambling Legal in Delaware, New Jersey, Nevada, 85 countries 33.6 Billion in Revenues, 665 companies, 2679 internet sites

History of Online Gambling In 1994 government of the Caribbean nation of Antigua and Barbuda passed the Free Trade & Processing act. Allowed licenses to be granted to companies to open online Casinos Also in 1994 Microgaming was founded, first provider of gaming software 1995 –The Gaming Club became the first online Casino Intertops, first online sports book opened Planet Poker became the first online poker site

Recent Statistics

Online Gambling Laws Historically there has been a disagreement between DOJ and some US courts over legality of online gambling Clinton and Bush administrations believed US Wire Act of 1961 applies to all forms of Internet gambling Thompson v. MasterCard International, Fifth Circuit interpreted act differently, ruling it applied to sports gambling but not casino games

Online Gambling Laws December 2011, DOJ issued new ruling stating Wire Act no longer can be used to persecute online gambling, allowed states to make available games of chance online. Federal Law- Disagreements over Wire Act led Congress to push for outright ban on internet gaming, although efforts have been unsuccessful UIGEA- The Unlawful Internet Gambling Enforcement Act, makes it illegal for banks, credit card companies, or similar institutions to collect on a debt incurred on an online gambling site

Online Gambling Laws UIGEA never specifically says what is legal or illegal online gambling It also directs banks to not spend time looking at individual transactions, but rather do their due diligence to make sure commercial clients are not engaged in internet gambling Due to ambiguity of Federal Law states have been left to pass their own laws, much like gay marriage, legalized marijuana.

What does the Future Hold Should the federal government try to pass more legislation around online gambling How will advances in technology continue to affect the gaming industry

Sources new-jersey_n_ html new-jersey_n_ html Online Gambling Industry Profile: Global. Jul2012, p p Online Gambling Industry Profile: Global. Jul2012, p p