The World Trade Organization oversees international trade, setting up agreements and enforcing them. A recent case involves the United States and Antigua and Barbuda. The island nation argued that online gambling is responsible for thousands of jobs and harming its economy. However, in 2004, the World Trade Organization ruled that U.S. laws governing online gambling violated their rules. Despite the recent court ruling, the United States continues to oppose online gambling and refuses to make any changes to its laws.
Although the numbers of online gambling enthusiasts are largely unreliable, there are a few important trends to note. Many of these trends are related to the emergence of internet casinos. According to a survey of internet casino players conducted by the National Gambling Impact Study Commission, more than fifty internet casinos operated in the Caribbean in 1997. In fact, those casinos generated an estimated $300 million to $350 million in revenue. In 2000, there were more than seven hundred sites.
United States authorities have made online gambling legal in some states, but the legality of these businesses in the country is another issue. Some states don’t allow foreign operators to operate in their borders, while others have tightened their gambling laws. Some countries, such as Belgium, do not have any restrictions on online gambling, although there are some strict laws in certain Middle Eastern countries. In contrast, England has strict regulations regulating the industry. However, this shouldn’t prevent you from using online gambling in your home country.
Many online gambling websites require players to download software and then run it through a program on the Web site. Others, like video poker, are played right on the Web site. In addition to the convenience of online gambling, high-tech software has made it possible to chat with other users, making it even more enjoyable and interactive. While online gambling does involve risk, it is generally safe and secure. In addition, the sites usually adhere to the strictest security standards. For instance, regulated online gambling sites employ industry-standard 128-bit encryption. They also have independent auditors who test software before it hits the market, making sure that the payouts are correct.
The Internet gambling industry has many regulatory bodies. While none of these organizations are official, some memberships do mean something. For instance, eCogra, the internet gambling association, is the industry’s regulatory arm. But not every site is a member of the group. Similar to eCogra, is the EGBA, a group of six privately-owned sports betting companies. Both groups share the same goal, which is to prevent problem gambling.
The world of online gambling is a multi-billion dollar industry. If you’re interested in joining this industry, learn more about its legality and how it works before you make the decision to gamble. However, remember that it’s not legal in all countries, so you’ll have to know the laws where you live before deciding whether or not to participate. So what should you know about online gambling? There are a few basic rules that you should abide by.