The gambling market is expanding rapidly with online casinos being created here, there and everywhere and with it more users and greater revenue. The United States, Europe, and South Africa, in particular, are experiencing an unprecedented growth in this market and, as such, there is an increasing need for prudent regulation to support it.
The United States
Like at every level, the United States is a complicated one because regulation of the gambling market is not centralized. Each state decides whether or not it will permit online gambling and then the respective governor signs it into law. What may be approved in one state, may be denied in another.
Two states currently have a full ban on online gambling: Utah and Hawaii. Yet, even in these two states, poker or other games that involve skill are still legal which confuses proceedings even further.
The US sports a heavily-divided society and gambling is no different; bills to regulate online casinos are often raised in states, but critics of legalization have done enough to stop them so far.
States are extremely likely to continue deciding for themselves if online betting is legal and, if so, their own regulations, free from federal interference. But, it’s likely that more states will legalize gambling – however far – for economic reasons.
There is a broad framework at large for European nations to follow – Treaty of the Functioning of the European Union (TFEU) – but each nation can determine their own set of laws as long as they abide by this treaty.
Most European countries allow online gambling, but the UK, for example, is far ahead in terms of what is allowed. Lotteries, sports betting, slots, online casinos/poker such as Bet and Skill casino and bingo can be accessed online.
But, where one goes others are sure to follow, especially when they see the money signs at the end of it. The online gambling industry’s net worth will almost reach a staggering €25 billion by 2020. That in itself is enough to get more on board.
But, where the online casino market has grown, so has the frivolity. Users must understand that choosing licensed, regulated and legitimate online casinos to play with is the best way to bet online.
The National Gambling Amendment Act of 2018 has improved the regulation of gambling activity by giving the National Gambling Regulator the authority, rather than the National Gambling Board in South Africa
For gamblers, South Africa is the place to be with online casinos, sports betting, lotteries and even land-based casinos dotted throughout the country. More laws are likely to come in to protect consumers whilst the nation’s desire to restrict foregin-based online casino operators to provide their services to South African players is unlikely to change.
Online is expected to receive a boost in the near future as land-based gamblers become increasingly challenged.
Growth is Certain
The online gambling market will grow with the recognition, legalization and regulation of online gambling. And, with technology’s expansion, gambling will be taken to a whole new level in 2020.