History itself has witnessed the love-hate relationship between the US and gambling. Although Nevada is a worldwide symbol, when it comes to that, the fact of the matter is, “The Land of the Free” isn’t exactly free when it comes to betting. This is especially true for online casinos, which immediately found themselves in the US authority’s crosshairs – a well-used metaphor right there.
In the early 1900s, right around the time of The Great Depression, gambling was banned. However, that didn’t stop people in the US from practising it in a more discreet manner, and by 1930, it was once again legalized.
Restricted! Not Illegal!
An important clarification – gambling in the US is legal. It’s just heavily restricted. A likely reason for this is the rapid shifting of gambling from ground-based venues, to online platforms. Of course, you can still find plenty of free spins no deposit casinos, that are only a few clicks away.
Naturally, all sudden movements are frowned upon, by any governing bodies, as such changes would undoubtedly require other involved parties to adapt to the new environment and take new measures, in order to keep a levelled playing field.
Grey is the new Black
Due to the “colourful” history, US has with gambling, the whole industry is perceived as a grey area. Then there is the issue of nationwide exposure, as every state more or less operates as a separate country, with its own jurisdiction. Casinos have their work cut out for them since they have to cover a long list of requirements, which are different for every state.
Give us your money!
High taxation rates are able to put off even the biggest of investors, as history has shown on more than one occasion. As things stand, the Government clearly wants to benefit from the business, just as much as the actual providers.
Casino providers are constantly butting heads with the US authorities, in order to strike a deal, that would keep both sides happy.
The Great Outdoors
It is no secret that the North American market is every big industry’s wet dream. Just as the great explorers from old days ventured out into the unknown, to discover this vast territory, all the growing companies now want to establish a foothold in it.
The sheer size of the market alone, and of course the ability and willingness of people to actually pay, makes this market one of the, if not the most desired business targets.
Hence why the Government is playing hard-ball, by imposing taxes, deemed ridiculous by interested parties. If you brush up on your Economy, it is essentially the same principle, as when you have a high demand for a certain product. You are able to charge more, until the point where other alternatives start being taken into consideration. At the end of the day, moderation is key.
A Light at the end of the Tunnel
All laws in the US derive from the Federal Wire Act (1961), which prohibited the transfer of any betting information, on an interstate level. Although the idea was to ban all online gambling, the Act’s restrictions were limited to sports betting only.
However, sports betting, being a substantial part of online gambling in recent years, was finally legalized in 2018.
Authorities seem to have finally grasped the bigger picture, as the US market has the potential to open thousands of job opportunities. This in turn, would bring billions to the economy.
The Trump Card
If you read this Heading, and associated it with the US president, then you are right on point. The election of President Trump, was a cause for the increase in optimism, among the gambling scene, as the eccentric head of state has more than a few assets dedicated to the industry. With this in mind, it’s fair to assume, that liberalization of online gambling in the US might happen a lot sooner than expected.
Support AFP
Share
AFP
