Online Gambling is a form of gambling that takes place over the Internet. It allows players to play a wide variety of casino games from the comfort of their own homes. Some games can be played directly on the Web site, while others require the use of high-technology software. Some games can be played in virtual reality, with players able to “look” around the table or casino room and communicate via online chat.
Laws on Online Gambling
In 1961 the United States passed the Interstate Wire Act, which made it a crime to use telephone lines in interstate or foreign commerce for the purpose of placing sports bets or to transmit information that assists in the placement of sports bets. This law applies only to the gambling business, not to individual gamblers.
Credit Card Fraud: In 2006 the Unlawful Internet Gambling Enforcement Act (UIGEA) was enacted, making it illegal for banks and credit card companies to transfer money to Internet gambling sites. This has caused online merchants to turn to alternative payment systems, such as online payment providers. These are not monitored by financial institutions and can be used to transfer funds to and from online casinos without being detected.
Money Laundering: The risks of money laundering are greater at online casinos than at bricks-and-mortar casinos, due to the speed and anonymity of the transactions. Criminals sometimes set up private tables at online casinos and then transfer their funds to criminal associates at the table.