The increasing growth of online gambling industry surpasses all the expectations when compared with land-based casinos and betting places. From the times when Internet Casinos, Inc., the first virtual online casino started operations back in 1995 until nowadays, not only the effects of online wagering on the established land-based industry came up, but also the need of broadening gambling laws and regulations.
Most of the online casino companies are located outside of the United States to avoid government prosecution because the United States Federal Appeals Courts has ruled about the Federal Wire Act prohibiting electronic transmission of information for sports betting across state lines, but there is no a specific law prohibiting gambling of any other kind. In fact, several states rule in favor of land-based gambling but having specific laws against online gambling of any kind.
While the internet has no frontiers, gambling seems to be ruled by physical country delimiters-boundaries. Gambling is legal and regulated in Caribbean Nations and most European countries, such as Malta and the United Kingdom from where wide arrays of online casinos operate.
However, in America, law says that owning an online casino or gambling related business without getting a license first may result as an illegal act, but if any individual would be willing to get one, however there are no states nationwide that are currently granting online gaming licenses, and regulations vary from state to state.
Government of Antigua and Barbuda, which licenses Internet gambling entities, sent a complaint to the World Trade Organization regarding the U.S. government’s actions forbidding online casinos and gambling activities. They won the preliminary ruling but later the Word Trade Organization’s appealed and partially reversed such ruling in April 2005.
The appeals panel decision allows state laws prohibiting gambling in Massachusetts, Louisiana, Utah and South Dakota, but ruled that the United States may be violating global trade rules as well, coming as the result of the American laws regulating horse-racing bets because equitably to foreign and domestic online betting companies is not applied.
With this panorama, online casinos await ruling; decision full of ambiguities as the global gambling online regulations. The Caribbean panel held that several สล็อต888 online gambling restrictions imposed under American regulations have been inconsistent related to the trade services agreement with the body’s GATS.
It is quite obvious that we like to gamble. With casino cruise ships that leave U.S. waters for hours at a time to allow their guest a night of poker, blackjack and slots to the classic casinos scattered throughout the country. Some people view gambling as a social aspect and some are just waiting for the next big win. The new variety of games will ensure you’ll find at least one you like to play or watch. Not to mention the friendly game of Texas Hold’Em you could find in your very own basement or garage.
Everything is a gamble, and that’s why we have insurance. We try to protect ourselves from high medical bills, and unforeseen circumstances. So why not try to protect ourselves from gambling debt. Although there isn’t a service quite like that, but there are precautions you can take to protect yourself and your assets.
One thing you can do is not participating in gambling games at all. However that may not be a ‘fun’ option for you. Assessing your financial situation and determining how much you can afford to lose is a great way to prevent gambling debt. Another tip is to leave your credit cards at home, set a maximum betting limit, and stick to that number. By having a predetermined account balance can help you keep track and acts as a safety net to prevent you from spending money allocated to something else such as your bills. When you’re in a casino, and you start to win big, the casino will start to offer you free alcoholic beverages, know your tolerance. The casino doesn’t want you to win; they want you to make bad gambling decisions while drinking alcohol. So if you can still function be having one drink, by all means you’re there to have a great time, but know when to say no. This will save you from making bad judgment calls.
With these gambling debt prevention tips, you can still have a great time, but remember you still have to be responsible. Also be aware of your family history, does someone in your family have a gambling problem? Be sure to know if you are more susceptible to having a gambling problem. This may be deciding factor on whether to gamble or not, and if you are susceptible you need to be conscious of its affects, long-term and short-term.
There is a time and place for gambling, and with the Internet providing access to online gambling, you can gamble anytime. You should be cautious though, online gambling posses several risks associated with gambling addictions. With online gambling there are fewer restrictions and policies, and you have a great chance to develop a gambling habit.