Identifying the Boundaries of Online Sports Betting

Identifying the Boundaries of Online Sports Betting

Many believe online sports betting is no different than other online betting, but there are important legal considerations that arise in order to identify where the limits on sports betting might fall.

In reality, the answer to the question is that online sports betting is inherently different from other forms of online gambling, because there are legal limitations and requirements concerning sports gambling that are not present in most other forms of online gambling. In some jurisdictions, particularly in the United States, online betting has been broadly prohibited, but there is room to see that prohibition ending. Regardless of where the sports betting industry ends up, it is important for stakeholders to be aware of the boundaries that apply to the industry.

Separating Sports Betting from Other Online Activities

Most forms of gambling that are governed by state laws are covered under the Unlawful Internet Gambling Enforcement Act of 2006. This act was put in place in response to the fact that most states have seen the growth of online poker businesses in the recent years. The United States Department of Justice sought to put the poker industry into legal purgatory, so that it could be treated like a drug cartel.

Online gambling, including online sports betting, is not treated the same way. There are exceptions to the overall ban of online gambling in the United States. Some states, such as Delaware, have regulatory bodies that oversee the conduct of online gambling, and there are other states like Nevada that have an excellent reputation for their safe online gaming.

The Unlawful Internet Gambling Enforcement Act is likely to be codified in a bill that becomes law, but it will be a long time before the industry is truly standardized across the country. Many stakeholders are hopeful that it does not get codified in a form that is too restrictive.

The sports betting industry will need to be monitored closely. It is important for the industry to consider what is the best way to serve the interest of the end customer. The current state of things is often dictated by the needs of the UIGEA rather than the needs of sports bettors. It is possible for this prohibition to be lifted and it is necessary that the sports betting industry be prepared. More details use this link

Taking Advantage of Sports Betting

Though most jurisdictions do not have a massive online sports betting market, it is nevertheless important to put the legalization issue aside when evaluating the potential for sports betting. Many people are unaware of the number of entities that are seeking to enter the sports betting business.

The sports betting market is going to be heavily competitive. There will be many issues that the sports betting industry has to address. The largest issue that everyone will likely face is the growing concern for security.

Joanne Morris