Will Nevada Lead The US Online Gambling Revolution?

Posted by Gambling News | Gambling News | Wednesday 29 August 2012 12:33 pm

Over a decade ago, products such as Party Poker and Party Casino started providing the ability for punters to take a bet, and to do this online. At the time this industry was frowned up by the US Government, but they could not do much about it. Offshore websites were being licensed in Kahnawake, The Virgin Island and Caribbean territories and this kind of made them legal, but also untouchable.

However, the US Government got their thinking caps on and came up with the Unlawful Internet Gambling Enforcement Act (UIGEA). This was promulgated virtually overnight and it effectively banned online gambling, by making payment transactions illegal through the auspices of an out-dated Wire Act from way back in 1961.

Now Nevada is the First US state to make online gambling legal, even despite the fact that UIGEA is still in force. The Department of Justice had a change of opinion on the basis of the act, and now interprets it as only online sports betting being illegal. The Federal Government has made it clear that States may decide themselves on whether or not to make online gambling legal.
Nevada has forged ahead and the first legal online gaming in the US will be online poker. Experts are of the opinion that Nevada is now equipped to lead the way with the US online gambling revolution.

Being a multi-billion dollar mainstream industry, the regulation and legalization of online gambling can have a huge business, and beneficial fiscal impact on the US economy. There is also the argument that online poker should be classified a game of skill rather than a gambling game, so, this makes it so much more attractive. If you think that since UIGEA was enacted – $72 billion has left the hands of online gamblers in the US and gone into offshore (foreign) pockets; Federal and state-wide coffers are losing out on a great deal of taxable revenue.

It is not easy to understand UIGEA, there are a ton of grey areas, but basically what it does is stop interstate wire exchanges of money. However, foreign money exchange is not a problem, although it’s becoming tougher as less of the reputable online casino will accept players from the US. While there is more than one way of skinning a cat, this becomes more complex as technology advances.

Gamblers like to play online, there have always been gambling games and a punter will bet on anything if they think they have a chance of winning. Basically, no matter how hard the US government buries their head in the sand, online gambling is not going to just go away. Prohibition has never worked and we see now that it never will. Nevada has the opportunity to get a leading edge in what ostensibly could become a very lucrative industry. All they have to do is keep leading the way. Battle it through the red tape and pave the way for other US states. Other states are going to want to hang onto their coat-tails.

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1 Comment »

  1. Trackback by gamblingnewsnetwork.com — August 31, 2012 @ 6:14 pm

    Will Nevada Lead The US Online Gambling Revolution? | Online Gambling News…

    Over a decade ago, products such as Party Poker and Party Casino started providing the ability for punters to take a bet, and to do this online. At the time……

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