Lifeline Of the US Online Gambling Law
In 1996 we saw an explosion of online casinos that swept through the whole world. The united states saw a huge increase in both online casinos and players. This huge increase of online players worried the land-based casino owners and they lobbied to have it stopped or at least slowed down. They knew if this pace continued they would see more of a decrease in profits. So they lobbied Congress hard and in 2006 the us passed the Unlawful Internet Gambling Enforcement Act (or UIGEA).
The UIGEA act prohibited all the banks and payment processors from processing any kind of transactions related to online gambling. This created a problem for players in loading and withdrawing money from their online accounts. While the companies continued to operate they had to use payment processors that could circumvent such restrictions. Despite all แทงบอลออนไลน์ these laws related to online gambling, some online casinos continued to accept players from the US.
On the other hand, many of the bigger online brands left the us market, the choices for players became extremely limited. Many said it was very hard to find a good online casino. A lot of reviews sites started to pop up that directed players to the sites they so desperately looked for. Some of these sites were better than others, but they served the need that was created. Shortly after the market had started to stabilize and players were playing online again Black Friday hit the online gaming world.
Many casinos had found a way around the deposit and withdrawal problems and the online gambling world was growing once again. Many started to feel invincible to this new law. The government was not really enforcing it and it seemed like they had no intentions of doing so. This was certainly a false sense of security for both the players and online casinos. April 15, 2011, will go down in history as the day the online gambling industry was punished and punished hard. It was the start of a new era. The us Department of Justice charged the principals of the three largest poker sites Poker Stars, Full Tilt Poker and Absolute Poker with bank fraud, illegal gambling offenses, and laundering billions of dollars in illegal gambling proceeds. The DOJ seized their domain names and their funds. Suddenly many US players were not just left with nowhere to play, but no way to recover their funds.
Black Friday forced many more gambling brands to leave the us. Everyone was once again scrambling to find new places to play, worried if they would ever get their money back, and wondering if anybody was going to stay in the us market. A major blow was struck to online gambling and many wondered if it would survive. Again the review sites played a major role in finding places for players to play. Now the market was very limited and it was a struggle to find online sites. Once again the market slowly started to stabilize and things settled down a bit. The market was damaged but survived.
The next major event was Gray Monday. Gray Monday saw more domain names and gambling operations seized. There were two main differences with these seizures. This time both big and small sites were seized. Many different sectors in the industry were seized including online poker, casinos, sports books and even bingo. Basically no one was safe now. Now the size of the company did not matter anymore. Nor did the industry you were in. This round of seizures was felt by everyone throughout the gambling industry. The full effects of this seizure have not been felt yet but there is now even less online US casinos available. Will the industry survive? It remains to be seen but it’s been hit hard.
Online gambling is huge. Statistics for the UK online gambling were released in February 2011, and they help paint a picture of just how popular online casinos are. More than 70% of the UK population (age 16 and over) participates in some form of gambling, seven percentage points higher than in 2007. Not all of this gambling is done at casinos online, but millions of Brits and people from all around the world do enjoy web casinos. Adults age 44 to 64 were most likely to gamble than other age groups. With the development of online gambling applications for smart handheld devices like iphones, these numbers are expected to grow at a rapid clip over the next few years.
If you are new to the world of wagering online, try to make smart choices, and you’ll make the most of your bankroll. Who knows? You might win some money too. One of the best “strategies” for gambling, whether online or offline is to stick with games where the house edge is the lowest. Blackjack is a favorite of players, and it also boasts one of the lowest house edges. Learning basic blackjack strategy from charts you can easily download online will develop your blackjack skills to maximize your chances of coming out ahead of the dealer. Craps is another low-edge game. In fact, Pass bets on a player’s first roll are some of the safest bets in the entire casino, with a house edge of just 1. 41%. Baccarat is not as well-known as other games, but it too has low house edges and is easier to learn than you might think.
Another good way to keep your money in your hands and not the casino’s is to avoid several “sucker bets” that you’ll find at web casinos and bricks and mortar casinos. One sucker bet to avoid is the “insurance bet” in blackjack. If the dealer shows an Ace, you may be offered “insurance, ” which is basically a bet that the dealer’s down-facing card is a 10. This scenario is very unlikely, and the house edge on insurance bets is 15%. Avoid these bets. Tie bets in baccarat (bets that the dealer and player end up with the same score) are also poor bets, with house edges of over 14%. Most other baccarat bets have far lower house edges.
Funding your online wagering is a matter of using a credit card or setting up a prepaid “e-wallet” to use on a site. Remember that using your credit card at an online casino is like getting a line of credit from the casino. You risk spending more if you sign up with a credit card. Signing up with a prepaid e-wallet is safer for those who worry that they could get carried away gambling, because once your e-wallet is empty, you can’t gamble again until you replenish it.
When choosing an internet casino, look for one with a generous sign-in bonus and make sure you read and understand the terms and conditions for cashing out your bonus. Some games (like roulette) are frequently not eligible for bonus play. Know your games, budget carefully, and avoid sucker bets, and you’ll have a much better time gambling online.