Online casinos in usa continues to be an industry in a state of flux. Mobile smart phones allow for people to bet at their leisure 24/7. States, like Delaware and New Jersey, are following the path of Nevada and turning to online gambling for much-needed tax revenue. But are other nations benefiting from continued United States restrictions on online betting? Here is the latest online gambling news.
“Your Entire Life Can Change”
Gambling combines social interaction, entertainment and the possibility of making some money if Lady Luck or your calculations are correct. Las Vegas has built its existence on men and women wanting to get away from the toils of regular life. It is a little fantasy world mixed in with the possibility to change your fortunes immediately. How far can online mobile betting continue this fantasy feature of the industry?
In many ways, the World Wide Web is the ideal place for enjoying your gambling. There is a timeless, border-less quality about a game that does not care who you are or where you are from, but only cares if you win. Many of the most robust online gambling platforms are on remote islands with few restrictions.
“Escape Boring Life”
Most real jobs are very boring with bosses who are egomaniacs. The wages are relatively low with the chances of increasing your salary very remote. Inflation keeps eroding the value of the cash in your pocket or deposits in your savings account.
Reality can be like a slow treadmill leading nowhere. You hope to save a little money before you become old and gray. When you retire as a senior citizen, your entire body aches after decades of toil and pain. Your Golden Years might not be so golden if you did not save enough while young.
“Win the American Dream If You Play Your Cards Right”
To get ahead in life, it really takes a big monetary windfall. When you win the lottery or hit a big slot machine jackpot, then you can invest that money into something valuable, like a new car or home. Otherwise, you are always in debt making payments on something you don’t have the money to pay for today.
Gambling can change all that. You can bend the future with a large win in a short time period. The average guy can get ahead.
“Was Chris Moneymaker a real guy or was he a plant to boost the fortunes of online gambling?”
In 2003, an unknown Texas Hold ‘Em World Series Of Poker (WSOP) player named Chris Moneymaker won first place in this incredible tournament. Moneymaker started from a USD$39.00 online satellite. His success really sent the message that any Average Joe could make it big gambling online.
Chris Moneymaker seemed to be a real guy. The classical poker player did not wear sunglasses to hide his eyes from reads, but Chris Moneymaker did. He was the poster boy for the anonymous world of online gambling.
“Anonymous Online Gambling and Social Media”
Social media and online mobile gambling allow you to be whoever you want to be. You are anonymous to the world and can create your own persona. You can step out of a small town where everyone knows your business or a career path where everything is pre-planned. Graduate high school at this age, graduate college at this age and retire at this age.
Modern life needs a little fantasy and fun. Look at the incredible appeal of comic and fantasy movies, like the X-Men. Generation X can put on a mask or hide behind a computer and save the world. With social forex currency trading, you can buy gold, stocks, currency and indices just like the pros.
“Change a Bad Mood with Mobile Betting”
Your smart phone or mobile device allows you to change your fortunes in an instant. If your boss is a jerk not appreciating your value, play Blackjack online and feel good when you win. If you can’t fit into your skinny jeans, play a little Bingo and show you are a winner. It just takes seconds to change your mood with online gambling.
“Easy to Set up Online Gambling Website”
The entire world loves to gamble. While in the past people would gamble in some dark basement in some urban area, now people can set up an online website in a short amount of time and make millions. This has created a challenge for law enforcement officials.
Every week, there are crackdowns on illegal online gambling sites. In Vietnam, police arrested 48-year-old Duong Ba Lieu and a dozen or so people who had made USD$15,000 through illegal online gambling. The police seized five laptops, three desktops and two modems. In Hue Province, illegal football-betting had netted USD$37.7 million for criminals.
“Gambling is Becoming a Mainstay for State Taxes”
Just as Nevada has turned to legalized online gambling, New Jersey is attempting to raise revenue from the activity. Government budgets are depleted due to a struggling economy and online gambling continues to increase in popularity. Many Americans are realizing they are simply losing out to off-shore sites, like the Canary Islands for a pastime that is not going away.
But most brick-and-mortar governments are struggling to fully understand the robust features of online gambling. They know it can be big, but they have difficulties in controlling the virtual environment. New Jersey had predicted the collection of USD$180 million for fiscal year 2014 from online gambling taxes alone, but New Jersey Treasurer Andrew Sidamon-Eristoff estimated only USD$12 million was expected now. Sidamon-Eristoff said “Clearly, the results so far have not met our expectations.”
Morgan Stanley reduced its projection for the United States online gaming industry to $3.5 billion for the year 2017. That is interesting because Bloomberg has estimated that by 2017, online gambling will reach $7.4 billion. So who is right?
Just like social media and online forex trading, Internet gambling continues to see high growth rates and popularity. Smart phones allow people to bet in online slots anytime 24/7/356 on any event. The potential seems to be quite lucrative, but unfortunately, while some American states are betting on online gambling, the federal government seems to be dragging its feet.
“United States Government Cannot Control Online Gambling”
Is online gambling legal or not? Supposedly gambling in many American states is “officially illegal.” The 2002 United States “Wire Act” and 2006 “Unlawful Internet Gambling Enforcement Act (UIGEA)” have lead to the federal law enforcement officials shutting down the three largest online poker sites. PokerStars and Full Tilt Poker were charged with money laundering and illegal gambling offences.
“New York Senator Alphonse D’Amato protested that online poker was not a crime.” And it isn’t supposed to be. But unfortunately, the United States government has continued to sanction online gambling firms leading to the eventual merger of PokerStars and Full Tilt Poker in 2014. PokerStars senior executive, Mark Scheinberg said “I am incredibly proud of the business Isai and I have built over the last 14 years.”
“How can online gambling be illegal if states are trying to raise revenue therefrom?”
We live in a global marketplace where nations can invest in the next hot market. New Jersey, Delaware and Nevada understand the great potential for online gambling. But the United States federal government does not seem to understand that this is an unstoppable force. Online gambling is primed to continue its tremendous growth with or without the United States.
British Virgin Islands, Panama, Monaco, Hong Kong, Singapore, Cyprus and many other destinations all understand the online gambling nexus. There is a growing demand for Internet gambling. If the United States continues to chop down 1 online gambling pine tree, the fallen pine cones will fertilize 10 more online gambling sites. The future for online gambling is quite bright.