How Different Countries Regulate the Gambling Industry – Qrius

Gambling comes in many shapes and forms. A simple Google search will reveal umpteen number of sites and sources to gamble online from the comfort of your home. These websites wont reveal or might reveal a bit later whether they are legal or not in your country of residence. If you gamble online, and it turns out to be illegal in your country, you could face a hefty fine and punishment for transgression of the law. To bypass this, you can play at Gclub because it is one of a few legit offshore casinos serving players from around the globe.

If it is not illegal, then you can have a bit of fun playing in a relaxed state of mind. These two scenarios are not the only ones that can happen. Thats why gamblers need to know whether it is safe to gamble from where they are, what the rules regarding online gambling are in their state or country of residence, and what could happen should they fall afoul of the law.

Several countries have different legislation regarding online gambling. Some have outright banned it, some have legalized it, and yet others are quite murky when it comes to details about such laws. This article attempts to bring some light to this issue.

The United States, Canada, and the UK are examples of countries with some form of rules and regulations concerning online gambling. We delve into them more below.

There are laws at federal and state levels in America. States also have the right to draw up separate laws and regulations for online gambling. Traditional gambling is more or less well-regulated, but online gambling has come under scrutiny for the financial transactions that take place in its name. Some states prohibit wire transfer of money in betting games unless both the states involved in the transaction have laws that specifically allow it.

Canadian legislation is not clear regarding online gambling, although it is not illegal. The Act in place does not have jurisdiction to deal with online gambling and cannot outlaw any websites or companies.

The UK has strictly regulated gambling in all its forms and has a commission that grants and withdraws licenses of gambling companies and websites. The primary objective of such legislation is to ensure that crime is not financed with the earnings from gambling.

Only eight countries in the world have banned online gambling or gambling in any form. These are:

Other countries often have murky laws or none at all about online gambling. This means that you cannot be penalized for playing online gambling in most countries of the world.

Countries that have little to no regulation for online gambling often choose the path of complete prohibition. Examples of this would include China, Hong Kong, and Russia.

Asian has the most restricted market and the most customers simultaneously. While the governments have attempted to ward off all forms of gambling except for government-run lotteries, several international websites are willing to accept gamblers from China.

Hong Kong has relatively more freedom concerning gambling but has largely chosen to follow chinas model and attempt to prohibit gambling altogether. Punishments are present for both players and operators.

In 2009, Russia enacted a sweeping on all forms of gambling, and online gambling fell into this spectrum too. Although there has been a slow reversal in this, the overall statement is still prohibition.

Countries that regulate online gambling have shown promising returns to them, while those who havent have seen illegal methods rise.

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How Different Countries Regulate the Gambling Industry - Qrius