Gambling is one of the most valuable enterprises in the world, with a market value of $59 billion in 2022. It has grown and adapted to new technological developments over time, providing users with a variety of online and offline entertainment options.
However, the legal side of gambling, as well as official support or lack thereof, are stumbling blocks to its expansion.
The World of Online Gambling
In the United States, different states have legalized or outlawed online gambling, even though the practice is lawful on a federal level. It’s worth noting that Hawaii and Utah are two states that have outright banned gaming. Aside from that, online gambling is legal in some states, while another may allow certain types of gaming.
To put it another way, most states have restricted online gambling options, and users should be aware of their state’s position on the subject before engaging in any online gambling activity.
The Gambling License
Every gaming establishment, whether it operates online or offline, requires a gambling license provided by a regulatory agency that oversees and governs the gambling establishment’s activities and ensures that they comply with the law.
The Social Gambling
Another form of unlawful gambling occurs at social events because no gambling institution is licensed to perform gambling operations. Most dog fights or illicit poker games are deemed criminal gambling; but, if the activities are performed simply socially with no gain to the bookie or game host, they are regarded as legal gambling.