Regulation of Internet Gambling – Laws that Govern Online Wagering

Internet gambling is one of the fastest growing industries in the world today; there is an amazing array of online gambling options available for people to gamble in safety and convenience. It is only obvious that laws have been changed to keep pace with the requirements of this industry that generates tens of billions of dollars every year (the illegal gambling business is estimated to be much larger). After all, if so much money is permitted to be unregulated then it will soon be controlled by criminal elements.

Gambling LawsIt is interesting to note that countries do not all have a similar approach to gambling and this influences the types of laws that they have made to regulate online gambling. The United Kingdom has a very open approach towards gambling and this reflects in its laws that are designed to protect the interests of the players as well as service providers, as should be the case. As a matter of fact, online gambling has been legal in the country since 2005, as a result of which some of the best known and most reliable online gambling operators are from the UK. Gambling regulators have succeeded in ensuring that gambling in the UK is very fair by updating laws to reflect existing realities. At the same time, it provides protection to people who might fall victim to unscrupulous gambling operations.

The United States, on the other hand, does not officially recognize online gambling and therefore there are no proper laws that govern it. The Wire Wager Act of 1961 continues to define the legal environment concerning gambling. At the same time, Americans contribute a lions’ share of internet gambling. Interestingly, there are quite a few loopholes in the law that confuse the issue. It is no surprise that some of the brightest legal brains have chosen to specialize in this field because of the immense potential it offers.

The biggest drawback of the Wire Wager Act is that it is neither comprehensive nor up to date. It was meant to supplement laws already existing or to be passed in the different states. Since the law uses ambiguous language such as “wire communication facility’, it has been misused to a large extent.

The United States further tightened control over online gambling by passing the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006. This law came as a disappointment to people who were hoping that online gambling would finally be legalised in the United States. As a matter of fact, many online gambling companies terminated operations in the US as a result of this law. However, many companies responded to the law by operating from offshore locations so that players from the US could continue to use them.

Given that online gambling is such huge business, the United States is actually losing out on much needed revenues by not regulating and taxing it. Furthermore, legal expert Bob Ciaffone feels American gamblers do not get protection from illegal gambling operations. It is very clear to see that the law needs to be made up to date without any delay.

Take Precautions Before Gambling Destroys Your Family

Any form of addiction is bad. Whether it’s smoking, drinking or gambling. Doing everything in moderation keeps your life balanced. But does that happen often? Not so much. It is okay to indulge in gambling once in a while. But to do it on a regular basis is not the right way to go about it. There are people who have gone overboard and literally destroyed the relations between them and their family. When that happens, you should realise the fact that you are losing people over a game. That is the time to quit. Not even play in moderation, but to actually stop playing altogether.

Take PrecautionsHere are some signs that will tell you when to quit and stop playing.

  • You cannot concentrate on anything else: when you lose interest in things you otherwise thought were cool and amazing. Now, you have stopped pursuing all your hobbies and are wholeheartedly giving your attention to only gambling.
  • When you have more debt to repay: Over a period of time when you get addicted to gambling, you start losing a lot. In the process to acquire more money, you start borrowing. That is when the problem starts. It is a vicious cycle to borrow money and then pay it back. What if you never win and have to pay the money back. You end up borrowing it from someone else. Hence, the cycle never stops and you go round and round in circles. It is important to put a stop to this cycle right away. Make a note of all the people you owe money and get it over with. It might take you some time to repay that amount but you have to start from somewhere.
  • When your family is not happy with you: If you lose in casinos and have a huge debt to repay. You might ignore or cut contact with your family since you are dealing with these problems. They will be hurt and angry. But in the midst of the moment, you will not realise how mean you are being with them. They will try to confront you and tell you that you have changed. Accept that and listen to them with patience. Family should come first and they are the ones who will support you no matter what. Hence, when you start ignoring them that is the time to complete and take a decision regarding the gambling addiction.
  • Once you realise that gambling has taken a negative turn for you, do not hesitate to take up counselling. It helps one tremendously. When you meet people who are going through the same issues as you do, you realise you are not alone in this journey. It will add as a morale booster and you will come out of sooner than most people. Try to stay calm and focus on work. Distract yourself and indulge in other activities to stay busy. Keep a tight schedule so that you do not get time to look at another casino website.