Online Casino Gambling

Along with ushering in healthcare reforms and economic stimulus, President Barack Obama may change the face of internet gambling in the United States.  In fact, upon Obama’s president win, a Merrill Lynch representative stated, “We think it could ultimately pave the way for online gaming regulation rather than prohibition.”

UIGEA Violates US-European Union Trade Agreements

The point of contention between America and the European Union is the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).  UIGEA was originally created in order to prevent any American financial institution from transferring monies into online casinos, with the exception of horse racing and lottery websites.

Currently, the European Commission argues that the United States’ UIGEA legislation is violating EU trade agreements.  While the Bush administration simply ignored working jointly with international organizations, Obama’s approach is much different.  In fact, the Obama administration is currently working to resolve the conflict with the European Commission. A resolution should come forth before the expiration of the “grace period,” or else the issue will be turned over to the World Trade Organization for further investigations.

While Obama has not declared his stance on internet gambling, his desire to work with the European Commission and United Nations to resolve conflicts may signal legalized online gambling.

The Future of Legalized Online Gambling

What does the future hold for legalized online gambling?  Last year, Congressman Barney Frank proposed a bill that would overturn UIGEA, but upon voting, the bill tied at 32-32.  In order to pass through the committee floor, the bill simply needed one more vote.

However, Frank continues to work to overturn UIGEA, and he believes that his bill will pass in 2009 with the help of both a Democratic president and Democrat majority in Congress.  Frank has 48 cosponsors for his act to revoke UIGEA, and if the bill is passed to legalize and regulate online gambling, then the American government stands to gain significant tax revenue – which is sorely needed to begin to replenish the severe budget deficit.

Along with legislative assistance, President Obama’s stance on conciliatory foreign relations may bode well for legalized online gambling in the United States.  Stay tuned for the latest news at Online Casino Spotlight!

Though many players still are quite not sure what it means, the UIGEA definitely represents the disdain U.S. lawmakers have for online gambling.  One of its biggest gripes is that internet gambling is an activity that can act as a vehicle for money laundering.  While this is a genuine concern of sorts, it really holds no water as money laundering has been directly tied to various land-based casinos and sports betting operations.  In fact, the golden days of Las Vegas were infamous for this type of activity.  Today, the gambling industry has changed dramatically as many laws and preventive measure have been implemented to keep money laundering away from the business.  Does the same hold true for online gambling?

According to the RGA (Remote Gaming Association), the online gambling industry isn’t the haven for money laundering that many think it is.  With the aid of MHA Consulting, the RGA released a new report and stresses that there have been no definitive examples of money laundering occurring within licensed online gambling jurisdictions.  On the other hand, hearing this news from the RGA should be no big surprise, especially when considering that it is a trade body for several leading online casinos and software developers.  Because of this, it is natural that the organization would be doing everything possible to distance the industry from money laundering.

The truth of the matter is that the RGA didn’t have to cover up much of anything for this particular report.  How can we be so sure?  Well, MHA Consulting came to conclude that statutory and self regulation have both played a major role in dramatically reducing the number of documented money laundering incidents in jurisdictions that license internet casinos.  In addition, the report also concluded that online gambling is not particularly vulnerable to money laundering activities.  Other than the lack of documented cases, these findings were attributed to the actual makeup of the online gambling industry itself.  Since the transactions are processed electronically, all betting activities are recorded and analyzed, and the identities of all gamblers are known, the industry makes itself transparent for investigations and comprehensive audits.  The information used in the RGA’s report was complied by  reviewing bodies in European licensing jurisdictions, which are more open about online gambling than any other in the world.

The big story is that both the RGA and MHA Consulting have drawn the conclusion that the online gambling industry is in the clear for now.  However, the report also gives indication that the industry needs to remain proactive in the area of detecting and preventing the threat of money laundering.  To help achieve this, online casino operators should only work with licensing jurisdictions and stay aware of the advanced tactics being employed by the more sophisticated money launders.  Because the industry is still relatively new with equally new regulations, it is imperative for casinos to work together to keep the criminals away from the industry.

Norway is known for producing some of the best home-bred poker players in the world.  Strangely enough, Norwegian citizens are not allowed to participate in online gambling.  In fact, the country recently put a law into effect that makes it illegal to place a wager to a casino over the internet.  Due to this action, there has been a lot of ruling, resistance and fallout.

Why the Ban?

Right about now, online gambling is at the height of its popularity. However, like many other areas, times are not so exciting for players in Norway.  The country’s lawmakers are fearful of internet gambling for some of the same reasons stressed by gambling opponents in the U.S.  One of the biggest gripes shared by both nations is the concern that some players will develop compulsive personalities and be forced to deal with addiction.  Another concern is getting a handle on fraudulent casinos and enforcing age restrictions to prevent the youth from getting involved.  While these are certainly matters that need to be addressed, Norwegian proponents are making the argument that it simply isn’t enough to completely prohibit online gambling.  Similar to players in the U.S., many Norwegian citizens feel as if they are being unfairly penalized because of a few bad apples who will just find other ways to fuel their addiction.  Players in Norway are fighting for a change in hopes of the ban on internet gambling being lifted for good.

A New Hope?

As of now, Norway is teetering on the idea of implementing laws similar to legislation in the United States.  The UIGEA is very sketchy but legislation is certainly not in the favor of U.S. players looking to gamble online.  In fact, there are a number of states that completely forbid online gambling, Michigan, New Jersey and the gambling capital of Nevada included.  It is also illegal for financial institutions that service internet casinos to do business with American players.  This makes it equally difficult and often impossible for both U.S. and Norwegian citizens to get online and try their luck at the plethora of online casino games available to other players.  Unfortunately, these restrictions have led several players to find illegal ways to obtain the thrills they seek.  It would probably be much easier to simply allow citizens to play at their leisure and regulate online casino games in the manner that some many other countries have.

While Norway lawmakers are busy trying to enforce the rules, its citizens are off trying to find ways to gamble any way they can.  It is a very fine line because players who are caught could be charged with a serious offense.  The country seems to be looking out for the safety of its citizen on one hand, yet terribly frustrating several more on the other.  The tension in Norway will likely carry on for sometime until the country reaches a viable compromise regarding the issue of internet gambling.

Real Time Gaming has placed its stamp on the online gambling industry by delivering some of the most realistic gaming platforms around.  Definitely among the fastest growing casino sites, Lucky Red Casino is one of several powered by RTG gaming software.  Though a relative newcomer on the scene, the Lucky Red management team has been in the business for a number of years.  When considering the casino’s quick rise, it appears that these seasoned professionals know what it takes to be a major player in the realm of internet gambling.

One of the reasons Lucky Red Casino is constantly attracting new players and keeping them loyal is the plethora of free money promotions they have going on.  This casino is well known for its generous welcome bonuses, ongoing reload bonuses and routine special giveaways.  For new online casinos especially, it is important to roll out a large number of promotions in order to make themselves known and establish a favorable reputation on the market.  And while you can say that this is a step Lucky Red Casino didn’t necessarily need to take to make a name for themselves, particularly because of their association with world renown Club World Casinos, they have still gathered up an impressive portfolio of promotions to continuously attract new and experienced online gamblers alike.

Lucky Red’s latest free money bonus offering is a series of Weekend Game Bonuses that is available to all players.  These bonuses can be played with a variety of popular games including video poker, blackjack and slots as well as keno and scratch cards.  Although online casinos owned by Isagro Holdings such as Cherry Red and Rushmore are also run on RTG gaming software, these attractive bonuses are strictly available through Lucky Red Casino.

We have gotten word that Lucky Red is offering five free money weekend casino bonuses that can be used for keno, slots and scratch cards. These bonuses are worth 150% and up to $1,000 each.  In addition, they come with a 20x betting requirement, which is pretty reasonable when compared to other offerings on the market.  There are five total bonuses and the codes for claiming them with the cashier are LuckyRed1, LuckyRed2, LuckyRed3, LuckyRed4, and LuckyRed5.   As mentioned above, there also bonuses for blackjack and video poker as well.  These bonuses are worth 75% up to $750 each and call for a 50x wager requirement.  To claim these bonuses, use the RTG bonus codes of BigWin1, BigWin2, BigWin3, BigWin4 and BigWin5.

Perhaps the most attractive part of these 10 weekend bonuses is the favorable cash out policy.  Unlike most online casinos that have terms and conditions stating that only a certain amount of free money can be withdrawn from bonus wagers, Lucky Red Casino has no such restrictions.  While other terms and conditions do apply, particularly abstaining from wagers on restricted games and trying to make withdrawals before the betting requirement is met, you will find that Lucky Red’s are pretty reasonable and complimenting to the new bonuses.

As internet gambling continues to soar into popularity, the issue of online casino security increasingly becomes a major concern for players looking to cash in.  When it comes to gambling in general, you have to determine just how much you are willing to lose.  If you are dealing with an insecure casino site, you could end up losing far more than you bargained for.  Because of this, the first step you need to take towards online gambling is finding a secure casino.  The best way to ensure this is making sure you are dealing with a reputable company.

There are literally hundreds of casinos online, all offering you the chance to sign up and take your shot at the jackpot.  Unfortunately, many of these casinos do not have a good reputation.  Almost any online gambling site will let you play, but it is up to you to find one that you can trust.  Because online gambling has been closely tied with so many scams, some expert players suggest finding a casino that allows you to play for free before placing any real wagers.  This is very understandable because when you are playing for free, there is no money to lose.  Even then, you need to be very careful as free casino games have been associated with malicious programs such as viruses, Trojans and spyware.

Knowing Where to Look

You can learn a lot about internet gambling sites by reading reviews.  These sites are very useful as they can tell you what to expect in terms of bonuses, payment and withdrawal options, gaming software and the level of security.  If the feedback from other members indicate that the casino is not reliable, there is a great chance that the site is also lacking in the security department and could put you at risk.  Taking a gamble with a company you know nothing about could put you in a situation where you lose your money and possibly your identity, especially if the casino doesn’t put security first.

Proceed with Caution

As someone new to online gambling, you should take it upon yourself to find out more about the security measures a casino employs by doing a little investigating.  A reputable company will publish this information and make it easy to find.   If there security policies are sketchy and not comprehensive, you should probably find yourself a new casino to play at.  Furthermore, when your money and personal information is on the line, you should never hesitate to contact the casino staff and gather more details about their level of security.  If the online casino is truly reliable, it should have no problem answering your questions until you are completely satisfied.

When you don’t make security a priority, the gamble you take at an online casino could be much more than rolling a pair of cyber dice.  The internet is a haven for hackers, malware writers and more scams than you could ever imagine.  If you don’t feel that a particular online casino can provide you with adequate security, keep moving along until you run across one that does.

Although new online casinos are popping up at a steady rate, the legislation and regulations don’t always work out in the favor of U.S. players.  However, many players have found that there are ways around the rules.  The best way to view this approach is that the rules on whether or not online gambling is legal in the United States remain very unclear.  Even with the UIGEA (Unlawful Internet Gambling Enforcement Act) of 2006 in full effect, there are still no federal laws in place that prevent U.S. citizens from participating in online gambling or other related activities.  Of course gambling experts and fans all believe things should be completely legal across the board, but there are some rules and regulations that could land you in hot water if you are not careful.

Where and Why

Different states have different laws regarding internet gambling and these regulations can impact those who attempt to play.  In the early days of the internet, online gambling wasn’t so much of an issue of U.S. legislation as it depended on which state you reside in.  In some ways, it still does.  For example, Nevada, Illinois, Michigan and Louisiana have outlawed online gambling and many other states are looking to introduce similar legislation.  California, Utah, Massachusetts and South Dakota forbid certain types of online gambling but allow others.

The reason why many states ban online gambling, Nevada in particular, is to protect the revenues generated from their land-based casinos.  There is a method the madness.  These states feel that because online casinos don’t have to reside in the U.S., there is no way for the states and federal governments to impose taxes on them.  This was definitely the case when the Commonwealth of Kentucky seized 141 gambling domains and demanded that the owners block their sites so Kentucky residents couldn’t access them.  Both the Kentucky and UIGEA suite make a great deal of the supposed social ramifications of online gambling and a priority to highlight its negative effects.  At the heart of the matter however, is a desire to keep money in the U.S. and continuously draw on a highly lucrative taxable industry.  Even Kentucky Governor Steve Beshear admitted that he supports legalizing land-based casinos and would prefer to protect the state’s horse racing industry from the competition of online gambling.

Getting Around the System

States such as Kentucky are mainly based on the UIGEA’s open-ended outlook on what constitutes as illegal internet gambling.  It should be reiterated that major loopholes can be found within the law, those in which don’t prohibit local operators from taking online bets while complying with state laws.  As United States nationals generally participate in online casinos that are completely legal, it seems very improbable that state or federal governments would ever be able to gather a legal framework that allows the full prohibition of online gambling or prosecute the operators themselves.

What does all this mean to you?  Know the laws and regulations of online gambling as they relate to your state.  Find yourself a reputable casino and if the coast is clear, pull the virtual lever until your heart is content.