If we have been enjoying online casinos much then we have probably heard of the present dilemma they are facing—and have been worried by it, too.
There seems to be protracted crackdown on land-based and online gambling in the US and some parts of the world, and casinos are taking the brunt of the situation—especially online casinos. Online casinos are harder to control—and earns more terribly—that’s why legislators are after them. So here’s a look into the possible future of online casinos.
Laws are there to regulate or go after something it deems is getting completely out of hand. Actually, laws are safety measures to ensure co-existence—so we can live and let live. Hence, something new, misunderstood, and deemed impregnable like online casino gambling which runs around lose in the world and carries a lot of money with it is target.
The thing is to help the law define online casino gambling. It would help a lot if online casino gambling companies unite to help legislators define and set limits on it and what they should abide by. Once upon a time communism was also seen as a monster running wildly around the world. But set against a backdrop of legalization and legislative strictures, it’s now accepted as a harmless idea within a democratic atmosphere and the bounds of law.
Hence, in this perspective, we can look forward to a bright future of online casinos when they assume the initiative now to dialogue with legislators. One of the major points here is taxation. When something this lucrative roams around untamed, unregulated, and untaxed, legislators are sure to be odious of it. Who’s going to be happy about minors freely accessing gambling sites any time, any day?
When Chris Moneymaker won the poker World Series, all was well because everything was defined by law through tournament permits and licenses. It marked a short grand time for online poker. Legal gambling becomes a sports and is brought to the open, what more with TV coverage and all the publicity.
Sure, times have changed, there’s an on-going crackdown, and banks and credit card outfits have been warned against channeling bets. Stocks of gambling corporations dived to an all-time low—with some major groups dropping more than 50 percent, and some holdings down by almost 30. In fact, Sportingbets sold a division just to get rid of its $13 million plus debt.
The future of online casinos looks bleak but with a few adjustments it may hopefully rebound.