The Restaurant Industry: The restaurant industry sees $780 billion in sales every year, and if you were to compare that to the number of people who gamble online, you would be amazed. The average person eats every day, and much of that food is consumed in a restaurant. A typical restaurant customer is worth $1000 a year, but an average gambler can spend many times that amount of money each day! So how does online gambling compare to land-based casinos?
Laws relating to online gambling vary widely from state to state, but most are lenient and aren’t as strict as those in the United States and other countries. For example, in Indiana, you can be charged with a felony if you’re caught operating a gambling website. In Washington, anyone caught gambling online is a class C felony – that’s right, a felony! Washington’s law is so harsh, in fact, that anyone caught gambling online is punished just as severely as possessing child pornography.
France introduced two pieces of legislation to regulate and tax online gambling. The first, the Internet Gambling Regulation and Enforcement Act, would amend the Internal Revenue Code and mandate licensing requirements for internet gambling sites. However, both bills were rejected and have yet to pass. Despite their failure to gain traction, the law will certainly affect online gambling. But what can be done? It is time to take the next step. Let’s review the law and its future.
Depositing money: Most gambling sites offer players various deposit methods. One of the most common is credit or debit card. Simply input the card number and the amount you wish to deposit and the gambling site will transfer the money to your online gambling account. The process can be confusing if you’re not familiar with the site, but once you do, it will be hassle-free. So, before you start gambling online, take a little time to learn about the site’s deposit methods and how you can withdraw your money.
The WTO is another place where a law can be challenged. A recent case between Antigua and Barbuda and the United States reveals how the laws regarding online gambling impact the economy. The ruling of the World Trade Organization, meanwhile, shows that the United States is not a good place for gambling. Its policies harm the economy of other countries. The World Trade Organization’s ruling on online gambling in 2004 supports Antigua and Barbuda because they violate international trade agreements.
However, there is a catch. The new law does not differentiate between legal and illegal transactions. Credit card companies may be unable to process transactions at online gambling sites if they are not licensed to do so. This is the reason that many Americans who visit countries with legal online gambling often find their credit cards rejected. This is because unscrupulous merchants entered the wrong business codes into the credit card processing system. As a result, it is not safe to use credit cards in countries where online gambling is legal.