The list of approved online sports betting jurisdictions continues to increase. Currently, it is up to fourteen states and Washington, DC, but many of the legal launch dates are still up in the air. Nevada is currently the only state to have taken the preliminary step and become the first gambling venue to offer online sports betting. However, the question remains whether gambling is legal in Las Vegas?
Although not formally legalized yet, gambling has long been tolerated in Las Vegas by both the state government and the gaming industry. Gambling has long existed as a means of transferring wealth from one casino player to another. In the past, the locals were even able to box and bet for their favorite games. In today's world, the general public no longer has access to the back rooms of the casinos and can now enjoy their favorite games from anywhere that they have an Internet connection.
But why is online Sports betting illegal in Las Vegas? Online gambling wagering have often been associated with organized crime and other illicit activities. In the case of online sports betting, online gamblers conduct transactions with respect to wagers, whether or not they have a license to do so. According to the Gaming Code of Nevada, online gambling is defined as "the conducting of an interactive gambling game by computers or other electronic devices."
Although this description sounds broad, it is actually rather narrow. In order to qualify as "interactive gambling game," online sports betting games must involve "live" betting and must involve sports markets that are accessible to the bettors. The definition of "live" differs from state to state, and although Nevada's revised version is very clear on this matter, bettors should be aware that if they are playing an offline game via an Internet connection, then it is likely that the game is not considered "live." It is important to understand that the definition of "live" is rather different from most online definitions, and the terms may be used interchangeably with regards to online sports betting.
In the world of sports betting, there are many licensed sports books including New York Bingo, Five Guys, Betfair, Betdaq, Betty's, Intertops, Perfect Money, Paradise Poker, Party Poker and Sunday Bingo. There are also several offshore gambling companies that provide online sports betting. The U.S. Department of Justice released a report claiming that more than twenty of the country's best known online gambling companies were engaging in schemes to encourage individuals to use counterfeit gambling money, as well as to launder the proceeds for one another. These companies included a number of prominent online sports books, including the aforementioned New York Bingo, Perfect Money, Betfair, Betdaq, and Party Poker.
Despite the legal gray area surrounding online sports betting, the state of New York has approved the regulation of online wagering on its state licensed casinos. New York State has created a system through which licensed casinos can offer online customers the opportunity to wager a specified amount of money on games of their choosing, and would allow customers to place bets on events taking place anywhere in the world. Although the State of New York would allow online gambling, it does not intend for these games to take place at all within the state.
No comments:
Post a Comment