What Is The United States Online Gambling Market Report?
In the United States online gambling has a legal status but the nature of the law is very much questionable. As of today the United States government has not taken any legal action against any site in the online gambling market. In fact the government has created many task forces to study and monitor the activities of online gambling sites and the results of their findings are quite astonishing. One task force says that the volume of new players and the total number of monthly visits to gambling websites have both been on a downward spiral and the direction of this spiral is unclear.
This is a sobering analysis indeed and it clearly tells you that things are not going to get any better for the online gambling industry in the United States. But then it is important to remember that online gambling is just one part of the overall online gambling market and the industry is absolutely huge as well. In fact many people underestimate the size of the online gambling industry simply because they do not realize that it is possible to make a complete loss on one single gambling site. If you were to go to a land based casino, you would find that the minimum wager required to place a bet is $1 whereas with an online site the minimum wager is impossible to fail.
That means that the online gambling industry is making a lot of money from a lot of people and it is earning an increasing percentage of its revenue from advertising. All kinds of companies are advertising through online means including casinos, sports betting, internet gaming, and poker rooms etc. Even financial institutions such as Citibank use online gambling. And the list goes on. The online gambling industry is one of the fastest growing industries in the world today and the problem of regulation and legislation is one which will continue to exist until such time that online gambling is totally legalized.
There is a great deal of debate on the internet about online gambling and regulation and the United States government has not done anything that disproves the validity of this debate. On the other hand the United States government and Congress have not put forth any efforts to regulate the online gambling industry in any way either. This leaves the consumers and the online gambling site owners in a lurch and the question often arises as to why. Why is there no legislation or any attempts to control the online gambling market?
The simple answer to this question is that no one wants to regulate the online gambling industry because no one wants to control the online gambling market. The United States government and Congress have not done anything to protect the consumer, so the consumer must take care of himself or herself. The online gambling industry has taken on an entire new identity and a great deal of controversy has surrounded it recently. But there is no reason for the government to step in and interfere with an industry whether the industry is online or offline. Individuals and companies are always going to be able to go about their business as usual and it is up to the consumer to do their homework, understand their limitations, and trust their judgment.
It is interesting to read through the United States Senate report on the online gaming industry. While most members of Congress may have never even gambled in a brick and mortar casino, it is clear from their report that they recognize the importance of online gambling to the residents of the United States. In the House there was support for legislation that would allow states to regulate online gambling as they deem necessary. Many representatives favored passing such legislation because they felt that state governments were weak on this issue and did not have the right attitude on the matter. However, the majority of members believed that the issue should be left to the states to handle.
The report goes on to say that the Department of Justice does not currently have enough resources to deal with the problems that exist with online gambling. The report goes on to say that the Department of Justice has received reports from state and local law enforcement officials regarding issues with online gambling, but the Department of Justice is unable to make any determinations at this time. Lawsuits have been brought against online casinos in the past and they continue to run rampant. Many states are considering making it legal for individuals to gamble online, but no jurisdiction has made a decision on this matter yet. This is an issue that continues to be discussed within the halls of government. Gambling online is currently against the law and any individual who is found participating in it may face prosecution.
If you are looking to place wagers online in the United States, then it is important to take the time to read the United States online gambling market report from the Department of Justice. If you are looking to participate in online gambling or if you are simply curious about what the law says, then you will find this report extremely useful. There have been debates within our country regarding online gambling. Some people believe that it destroys the family unit, while other people believe that it destroys the family. No matter what your beliefs are you should learn more about online gambling and what it means to the law in order to make a determination about whether or not it is right for you to participate in online gambling.