Online Gambling is a global phenomenon, with more than 85 countries legalizing and regulating this form of gambling. The industry is highly regulated and professional, and it draws in gamblers from all demographic groups. However, this mode of gambling comes with its own unique set of challenges: internet gambling requires electronic payment and is available around the clock, leading to disrupted sleeping and eating patterns and a high risk of problem gambling. There are also concerns that it can lead to money laundering and identity theft, especially since the games are anonymous and not subject to local laws.
Despite the challenges, online gambling has become very popular and is expected to continue to grow. It is estimated that the total value of online gambling will reach $145.6 billion by 2030. As the internet has expanded, it has created opportunities for online casinos to expand their operations and reach a wider audience. It has also made it easier for people to find online casinos that offer the types of games they enjoy playing.
The popularity of online gambling is leading to more and more states trying to regulate it. Some lawmakers are working to circumvent the patchwork of state legislation by proposing federal regulation of online gambling. These efforts include the Internet Gambling Regulation, Consumer Protection Act, which was introduced in early June 2013. The bill is designed to create uniform standards and make it easier for businesses, players, legislators, and regulators to navigate and participate in the online gaming industry.