Online Gambling Myths and Facts
Online gambling brings all the fun of the casino into your home. The ease of accessing online gambling and setting up accounts has caused concern. These concerns include the risk to underage gamblers and the targeting of individuals who have a gambling addiction. However, many of the concerns are propagated through rumor and myth. Once these are exposed the truth is very different.
Myth One: All Jurisdictions Are Equally Regulated
Fact: Not True
All regulated jurisdictions are not equal. When licenses are granted they come with a series of strict conditions attached to them. Regulated gaming models have been adopted to ensure that operators seek permits from the required regulator. It is the role of the regulator to ensure that games are checked and that the at least meet, and preferably exceed the established guidelines. The more stringent of these regulators require operators to address potential problems such as money laundering, youth gambling and fair play.
Myth Two: Online Gambling Makes It Too Easy for Kids to Gamble
Fact: Not True
Online gambling sites that have been licensed by their local regulatory authority are required to have a number of checks in place to stop individuals under the minimum legal gambling age from accessing and using the sites. These checks usually include the need to produce a valid credit card and answer a series of detailed questions. This allows the players age and identity to be checked before they can access games, make deposits or request withdrawals. Once a player has an account it is their responsibility to log out when they are not using the site and to create an appropriate and hard to guess password that is known only to them. Online gambling sites that do not require this level of security are unlikely to be licensed and should be avoided and reported.
Myth Three: Online Gambling Targets Those with Gambling Problems
Fact: Not True
It is actually much easier to track the behavior of an individual online than it is in the real world. This can be used to restrict, or freeze the gambling accounts of those who show warning signs of reckless or even addictive behavior. This is much more difficult to achieve in the real world because there is great choice in terms of ways to gamble. Online sites can share information and multiple sites are often operated by the same company. While it is conceivable that online gambling sites make short term gains from encouraging those with gambling problems, these are completely outweighed by the long term damage done to their reputation.
Myth Four: It’s Just a Money Laundering Front
Fact: Not True
While money laundering remains a large and very serious international issue, it is not one in which online gambling is involved. The vast majority of online gambling sites are located within G8 nations. These are closely regulated and monitors by securities commissions. All financial transactions, events and any irregularities are tracked and reported. The amount of money that needs to be held by the companies is set at a level that means that all deposits could be returned and all winnings paid at any given time. This is another area where regulation of online gambling exceeds that of real world betting and casino gambling.
Myth Five: Online Gambling Will Mean the End of Real Casinos
Fact: Not True
In fact, it has been suggested that online gambling has actually increased interest in casinos. Individuals may play alone at home on a tablet or PC, but when they want to enjoy a social night out with friends the land-based real casino is a popular choice. It is also worth remembering that the real-world casino has more to offer than gambling. The complete experience is not something you can replicate online.
Myth Six: The House Always Wins
Fact: Ok, This One Is True, But….
Yes, it is true, in the end the house always wins, after all if it didn’t it would soon go out of business. But, that doesn’t mean you shouldn’t play, or that you don’t have a chance of winning. Individuals win all the time; if they didn’t then they wouldn’t go back. In the end it is basically a case of getting the balance right and knowing when to call it quits. Given that, here are three more myths. If you avoid falling into these traps you can enjoy the odd gamble and walk away with your pride, dignity and your bank account intact.
Myth A: The More You Gamble the More Likely You Are to Win Big
Gambling just doesn’t work like that. It is a series of independent events – meaning that the outcome of one event has no baring in the next. So the player who plays for two hours every day has the same chances on each game as the one that plays two hours a week.
Myth B: Eventually You Will Win Your Money Back
If this was true, all gambling sites and casinos would be out of business. They are after all businesses and therefore they need to make a profit. That profit comes from your losses.
Myth C: The More You Know the Greater Your Chances of Winning
Casino games are generally games of chance; nothing you know, or think you know, is going to make a difference to the outcome. Of course there are some exceptions poker being one of them as there is a level of skill involved, but there is still an element of chance. The same is true with sports betting from horse racing to the next soccer match.
One big truth that you should always remember about online gambling is that it is meant to be an enjoyable pastime. While it is, then you are ok. The minute you stop enjoying it, or start looking at it as an alternative means of regular income, then it is time to stop, at least for a little while.
This web site offers a wide range of assets relating to authorized U.S. online poker.
Get snapshots of the three open markets instantly under, click on right here to leap to the most recent US on-line poker information and developments, click on right here to study extra concerning the states which are contemplating regulating on-line poker, and click on right here for a number of the authorized background surrounding U.S. on-line poker.
The place can I play authorized US on-line poker?
On-line poker is at the moment regulated in three US states: Nevada, New Jersey and Delaware.
The most important of the three regulated markets in america, NJ is residence to a number of distinct on-line poker networks, together with WSOP.com / 888.com, Celebration / Borgata, and PokerStars NJ.
Nevada differs from NJ and DE in that Nevada solely presents poker on-line – no on line casino video games.
Delaware is the smallest on-line poker market in the established order, though a recently-signed liquidity settlement with Nevada ought to assist to bolster numbers.
Delaware operates a single on-line poker web site that each one three licensed manufacturers feed into.
States to look at
4 states have energetic laws that would enable them to supply authorized and controlled U.S. on-line poker and on line casino video games.
The place do these efforts stand proper now?
Michigan on-line gambling
Michigan represents the most recent effort to manage on-line gaming within the U.S. As such, it’s the one which has essentially the most optimism behind it.
The invoice — SB 889 — was simply launched final week. There was little in the best way oftemperature taking, to this point, because the invoice hasn’t even gotten by a committee listening to.
The excellent news in Michigan? It already has one type of on-line gaming: The state presents lottery video games over the web.
The legislature is ready to adjourn late subsequent month, so the prospects of passing the invoice within the brief time period may appear bleak, barring a fast turnaround. However including one other state to the iGaming dialog nonetheless represents a constructive growth.
California on-line poker
California has been wanting on the challenge of legalizing on-line poker for the higher a part of a decade. However 2016 may signify one of the best likelihood but for on-line gaming in essentially the most populous state.
Final 12 months, a invoice made it previous a committee vote earlier than progress stalled. This 12 months’s legislative effort — AB 2863 — kicked off in comparable vogue, additionally passing within the committee by unanimous vote.
The 2016 effort differs from the 2015 push in that the horse racing business is largely in favor of the invoice, due to a subsidy within the tens of tens of millions of it might obtain as a part of the laws. That is available in change for the horse tracks giving up the appropriate to be a web based poker operator.
On the similar time, the “unhealthy actor” debate — aka whether or not PokerStars will probably be allowed within the California market — seems to have raised its ugly head once more. been update for poker qq
An modification to AB 2863 additional outlined the tax charge and moved the unhealthy actor bright-line to December 31, 2011, however that was hardly sufficient of a compromise for an influential coalition of tribes spearheaded by the Pechanga Band of Luiseño Indians and Agua Caliente Band of Cahuilla Indians.
Regardless of the continuing debate, the invoice handed Appropriations and is headed to the Meeting ground in August.
Whether or not or not a rising coalition consisting of PokerStars, big-name cardrooms, racetracks and tribes will carry sufficient weight to push the invoice by Meeting stays to be seen. However provided that passage requires a two-thirds majority, it looks like the battle to manage California on-line poker in 2016 will probably be uphill.
Pennsylvania on-line gaming
Out of all of the states in play for iGaming, Pennsylvania has the greatest likelihood of passing a invoice this 12 months.
In 2015, a invoice (HB 649) sponsored by Rep. John Payne reached the Home ground earlier than motion on the invoice stopped.
The truth that it was tied to different gaming expansions and income may need been one of many causes it wasn’t handed. These considerations have been nonetheless alive and nicely going into 2016, with a provision to enable video gaming terminals at non-public institutions on the middle of the controversy.
This 12 months’s effort bought off to a shaky begin, as two amendments – one which included the addition of VGTs at non-casino areas – have been soundly defeated.
The tide turned in late June, when HB 2150 – a multifaceted gaming reform invoice that included every day fantasy sports activities, on-line poker and on line casino, and different reforms – was amended to not embrace VGTs. The Youngblood modification handed by a 115-80 margin.
Only one week later, HB 2150 cleared a vote within the Home.
The one hurdles that stay for PA on-line poker are a passing vote within the Senate and a signature from Gov. Tom Wolf – who seems open to the concept of gaming growth if it helps Pennsylvania resolve its budgetary shortfall.
New York on-line poker
New York made important headway within the struggle to manage on-line poker in 2016, with laws making it previous the introductory section for the primary time.
Optimism ramped up this 12 months when a standalone invoice handed a committee vote, after which once more when regulation was tied to the Senate’s state finances.
Optimism gave solution to malaise when the invoice’s progress got here to a standstill, and when iPoker didn’t survive within the closing finances.
Meeting member Gary Pretlow additional dampened hopes when he put the percentages of on-line poker reaching a vote at 100-to-1 or worse.
A late legislative push brightened the outlook momentarily, however on the identical day S5302 handed by an amazing margin within the Senate, Pretlow pronounced the web poker invoice useless in his chamber. A proof as to why the invoice stalled within the Meeting has but to be supplied.
Though NY on-line poker did not cross the end line in 2016, momentum is constructing quickly, rendering New York an odds on favourite to move a invoice subsequent 12 months.
The broader federal image for US on-line poker
There are at the moment no federal legal guidelines that instantly prohibit or authorize on-line poker.
Nonetheless, a number of federal statutes have the potential to ban on-line gaming not directly form or kind, if state legal guidelines are ambiguous. That mentioned, solely two of the 4 federal statutes that would apply to on-line gambling, IGBA and UIGEA, may fairly be utilized to on-line poker.
The opposite two federal legal guidelines usually cited in on-line gambling discussions, 1992’s Skilled and Newbie Sports activities Act (PASPA) and the 1961 Wire Act, are sports activities betting particular.
For the Wire Act, this wasn’t at all times the case.
Up till 2011 The DOJ’s interpretation of the 1961 Wire Act (first formally entered in 2002) successfully made on-line poker unlawful within the US. That modified when, on the urging of Illinois and New York, the Division of Justice’s Workplace of Authorized Counsel reexamined the Wire Act, and concluded its scope is restricted to sports activities betting.
2015 in evaluation
Congressman Joe Barton launched his semi-yearly on-line poker legalization invoice in 2015, dubbed The Web Poker Freedom Act of 2015 (HR 2888). Sadly, there’s merely no momentum for this challenge on the federal degree and HR 2888 managed to entice simply two different members of Congress as cosponsors in 2015.
On the other aspect of the coin, the continued efforts, led by Sheldon Adelson, to ban on-line gaming has additionally garnered little help in Congress.
In 2015, the Adelson-inspired Restoration of America’s Wire Act (RAWA) invoice was launched within the Home and Senate for the second consecutive 12 months by Consultant Jason Chaffetz (R-UT) and Senator Lindsey Graham (R-SC) respectively.
RAWA managed to muster two hearings within the Home in 2015, however each hearings appeared to have executed extra hurt than good, as they hypocrisy of the invoice was on full show, and the wind has fully been taken out of its sails. RAWA is likely one of the uncommon payments in Congress that has widespread bipartisan opposition.
A late effort to connect RAWA to the finances invoice handed in December of 2015 by no means obtained critical consideration, and warranted a single sentence in a Politico column on the invoice.
Progress on a invoice both legalizing or prohibiting on-line poker is unlikely in 2016 for a number of causes:
- 2016 is a presidential election 12 months, that are traditionally gradual on the legislative entrance;
- Efforts to ban on-line gaming have failed to realize any traction in 2014 and 2015;
- There may be little urge for food for legalizing on-line poker on the federal degree now that states have the aptitude of doing so due to the 2011 opinion by the OLC.