What Is Online Gambling?
Online Gambling is a type of gambling where you can play casino games from your computer. These include slot machines, bingo, baccarat, roulette, poker and blackjack. These can be played for money or for free. Some casinos even offer loyalty bonuses for repeat business.
Some countries have laws that prohibit online gambling, while others do not. You should check with your local government to determine whether online gambling is legal in your country.
Banks and Credit Card Companies Block Online Gambling Using Alternative Payment Systems
In 2006, the Unlawful Internet Gambling Enforcement Act (UIGEA) prohibited banks and credit card companies from transferring Americans’ funds to online gambling sites. As a result, many online merchants and gamblers turned to alternative payment systems called online payment providers.
These companies transfer funds directly from the customer’s credit card account to a casino or gambling site. These providers are not regulated by the same laws as banks or credit card companies, so they are susceptible to fraud.
Taxpayer Money Funds Federal and State Lawsuits against Online Gambling
As a result, taxpayers are funding lawsuits against online gambling operators and the cost of prosecuting them. They also are paying higher interest rates on credit cards that consumers use for gambling.
Problem Gamblers Are Increasingly Online
A recent study by researchers at the University of Colorado and Stanford found that problem gamblers are increasingly playing on the Internet, rather than in brick-and-mortar casinos. The study, by Judith Ladd and Robert Petry, finds that pathological gamblers often use Internet gambling as a form of self-contained escape from their usual surroundings.