How Online Gambling Is Regulated

Online Gambling

Online Gambling has a history that dates back to the 1990s. It was initially seen as a way to circumvent government control of the industry, as online gambling operators were able to set up their business in an offshore jurisdiction and accept wagers from anyone with a web browser. Eventually, however, Congress and the Department of Justice began exploring ways to regulate online gambling.

Today, it is a rapidly growing industry. Many online gambling companies offer bonuses of up to 20% of the initial deposit and require players to wager the bonus amount two to three times before winning real money. In addition, some sites offer prizes for repeat customers. Winnings are usually deposited into an online account, or paid via certified check mailed to the winner.

Initially, online gambling sites were not allowed to accept credit card transactions. This forced many merchants to use alternative methods of payment, such as PayPal, Neteller, FirePay, and ECash. These online payment systems are secure and anonymous, as money is transferred from a card to an intermediary account. Moreover, the money that goes to and from these accounts is difficult to trace.

Despite the lack of a unified federal law governing online gambling, some states have enacted their own laws to protect their citizens. In the United States, the House of Representatives has introduced a number of bills aimed at softening the federal laws governing the industry. The Internet Gambling Regulation and Tax Enforcement Act (IGRTE Act) would license online gambling businesses, tax them, and regulate them. It would not ban online gambling, but it would ban sports betting and horse betting.