Ups and Downs In GamblingCasino Games draw in millions of tourists, travelers, and those hoping to strike it rich, and the industry draws in millions and millions of dollars. Yet in recent years, the government has cracked down on gambling organizationsÑparticularly online casinosÑmaking it more difficult for individuals to gamble and for gambling organizations to bring in money.
Stricter Regulations Enforced
In the wake of the September 11th attack, the government cracked down on most national and international organizations, implementing regulatory protocols with the aim of increasing safety. One aspect of these regulations was the Unlawful Internet Gambling Enforcement Act, approved by President Bush five years ago, which is somewhat inexplicably attached to the Port Safety act of the same year. Essentially, this act places stricter surveillance on online casinos, in particular, to ensure that nothing illegal is occurring.
International Online Casinos
Part of the goal of the UIGEA was to cut down on unregulated international transactions. Nevertheless, many online gaming systems and Internet casinos have found away around this law, and have offered largely unmonitored access to many gamblers. These international Casino Strategy allow gamblers in the United States to make monetary transfers to a number of offshore accounts as well, to avoid taxes on their earnings.
As a result of increased oversight and international gaming, the US has seen gambling revenue decline in recent years. To keep the industry above water, the UIGEA does offer dispensations to gambling organizations like fantasy sports leagues, horse racing clubs, and commercial lotteries for Casino Safety, all of which are subject to fewer restrictions.