Sports Betting Legal

The online sports betting industry was put on edge with last Fall’s passage of the "Unlawful Internet Gaming Act", which now forbids any financia institutions from processing transactions to offshore sportsbooks.

Despite this fact, many still happily bet on sports and will continue to do so, irregardless of whether or not their credit card goes through. Alternate deposit options are readily available for most all customers, even the casual bettors.

What does this act and its fallout mean for Joe Average bettor? Well, the law itself does not explicitly forbid people offshore sportsbooks from taking bets. If it did, the USA would be over stepping its legal jurisdiction by prosecuting businesses in other sovereign nations. As a result, many believe that this act simply stops banks from electronic transactions leaving the USA for off shore betting.

Since many players deposit using their credit card, bank account, or by ACH/check, this means things become more difficult. Now, it appears players can deposit through uncoded credit card processors, bank wire, or electronic funds transfer.

These options tend to take longer, but are generally more secure. Once the money is in the offshore book’s account, you can wager as usual.

Without a doubt, this year’s football season might be slower for online sportsbooks, and some might even have to close. The ones that survive will be those that can get the most money through their doors, and diversify their product offerings across casino games, poker, and horse racing.

Sports Betting Thoughts

Sports betting has been wrought with controversy lately, due mostly to the recent "Unlawful Internet Gambling Act" passed by the USA. This act essentially bans all financial institutions and banks from processing transactions to any off-shore online sportsbook.

The result of this new law has produced fallout all over the online gambling industry. Many mid range to top level sportsbooks have closed shop or discontinued catering to US clients. If they chose the latter, they quickly found out that most of their business came from USA, effectively putting them between a rock and a hard place.

Ultimately, the issue comes down to the morality of online sports betting. In all honesty, online gambling can be highly addictive and financially devastating for those who can not control their behavior. Additionally, many professional sports agencies and marketing groups fear that sports gambling will "dirty" the game of football with kickbacks to dishonest referees, bribery, and mob activity. It is a known fact that these types of problems exist in the industry, although not as rampant as morally superior lawmakers would make you believe.

9 out of 10 of all popular online sportsbooks are reputable. For the most part, they pay out on time, offer fair gaming odds, and are extremely convenient for those wishing to make their Sunday afternoon a little more enjoyable with a friendly wager. Not every sportsbook is out to screw the customer, nor are they financially tied to the Italian Mafia. Let’s face it, America loves gambling in all forms: lotteries, Native American Casinos, horsetracks, and more area all avidly enjoyed by the majority of all Americans.

So, given this fact, what can be done? The answer is very simple. The USA needs to regulate, license, and tax online gambling. By installing some sort of internet gaming authority and/or regulatory body, the gaming industry would surely flourish and rid itself of any unsavvory elements. Organized crime is not interested in dealing with the government, nor honest businesses either.

Until that happens, however, many will continue to considerd off shore gambling evil vice, while at the same time enjoying slots, horse racing, and blackjack at their local casino.