The UIGEA included a framework that allowed the Federal Reserve to ban these payments at financial institutions, including major banks and credit card providers in the USA. This led to the withdrawal of many online gambling operators from the US market, as they feared the repercussions of significant fines and imprisonment. While the UIGEA did not explicitly outlaw online gambling, it created significant challenges for operators and players alike.
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Sports betting online is the only way to effectively carry out line shopping. The beauty is that customers can sign-up to numerous online betting sites for free and then search for the oddsmaker that offers the best value.
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A gaming license is essential for any casino to operate lawfully in the jurisdiction of the United States. Casinos in the US are usually licensed by offshore gaming commissions due to their lower cost. These US casinos are mostly regulated by the gaming commissions mentioned below.
The Federal Wire Act of 1961 is one of the most critical pieces of federal legislation that impacts online gambling companies. This act prohibits the use of wire communication facilities for offering gambling services in unregulated markets. While the original focus was on telephone systems and sports betting, the language of the act has been interpreted to include online gaming services, including online casinos.
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Mobile casinos have been on the rise since 2020 when the pandemic forced a stop on all outdoor activities. People have since realized that you can get the full gaming experience at your fingertips through mobile casinos. The world went back to normal but it has changed the casino industry. In 2022, the global online gaming market grew by 58% and is projected to grow even more.
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While many states could be legalizing sports betting soon, there may be a few that hold out on legalization indefinitely. The main state that won’t ever legalize gambling is Utah, with its large Mormon population and strict state laws. If you want to know more about gambling laws in the US, you can check our US legal sports betting guide.
