Online gambling in the USA is growing at a fast pace. According to numbers from a Research and Markets report, the industry is going to reach $92.9 billion by next year. It is currently growing at a yearly compound rate of 11.6%. Projections also indicate that the rise in technologies such as VR, Blockchain, and IoT is driving the industry even forward. North America has recently decided to join the rest of the world in terms of Online Gambling, with a major change in regulation and laws. The market in North America should be growing at an impressive rate of 14.78% until the year 2025
In the United States, the 1961 Wire Act regulated the sector for the longest time. The ironic thing is that legislation was aimed to work with antiracketeering regulations and laws. Unfortunately, it was drawn way before the internet existed, and it is entirely irrelevant when it comes to digital betting. Therefore, in 2011, the DOJ allowed the US states to pass their own legislation regarding online betting, which allowed each state to decriminalize the activity. Thus, online gambling has become legal, but on a state-to-state basis.
That means that the activity is legal on a federal level. Therefore each state has the right to regulate its own online gambling industry and make it legal or not. You should also be aware that sports betting follows a different set of regulations than online casino gambling. So you will have to check the laws and regulations of your state regarding the type of online gambling you want to enjoy.
Online Gambling in the USA – Illegal but Accessible?
For the longest time, online gambling was illegal, as mentioned. On the other hand, that did not mean that players couldn’t gamble online, as it was not really illegal for them, as it is a known fact that players do not get prosecuted for such activity. On the other hand, that meant that players had to risk placing bets at unregulated and illegal online casinos that are based overseas. That also meant that the state government could not provide them with any form of protection. Therefore, with the change in the laws and it becoming a federal manner, many states tackled the issue by regulating online gambling. That offers security and safety for its players and tax revenue for the state.
Nevada the Gambling State – But No Online Gambling
Gambling Laws in the USA are quite weird, and Nevada is one of its many examples. Nevada is one of the most popular gambling states, and it allows for land-based casinos to acquire permits and licenses. But on the other hand, residents of Nevada can’t play slots online. Instead, they will have to go to a physical brick-and-mortar casino to place bets on a slot machine.
States in the USA that allow for Online Casino Gambling
Since online casino gambling is regulated and legal, but on a state-to-state basis, here are some of the states where online gambling is legal and regulated.
The NJ Division of Gaming Enforcement is the one that regulates online betting in the Garden State, and it is an absolute trailblazer in its field. Back in 2013, the state of New Jersey became the first ever to permit an online casino in the US. Today, dozens of online casinos bring regulated tax revenues while providing a regulated and a safe online casino experience to the state residents.
Gaming Control Board is the entity that regulates online gambling. It has followed the state of New Jersey and allows for all sorts of casino gambling, including online poker.
West Virginia joined the list in 2019 through the Wagering Act of 2019. That act created a framework that allows companies to offer interactive betting on table games, sports, poker, and slots within the state. It is regulated by the West Virginia Lottery.
Michigan was the 5th state to legalize online poker. In 2018, the government at the time, Gretchen Whitmer, signed the Lawful Internet Gaming Act. That act put the Great Lake State on the way to becoming a serious player in terms of online mobile sports betting and online slots. The state also allows for fantasy sports betting. The entity responsible for regulating online gambling and licensing the casinos is the Michigan Gaming Control Board.
Delaware permits and regulates all types of online gambling, with the exception of sports betting. The State’s Division of Gaming Enforcement regulates all of its gaming activities.
Cryptocurrency Made it Easier for US Online Casino Players
Bitcoin casinos really opened it up for the US in terms of online gambling. As mentioned before, online gambling is a grey zone. As it is illegal, but players will rarely be prosecuted for gambling online. On the other hand, there were several crackdowns on online gambling venues, depending on the state. Bitcoin and other Cryptocurrencies are not regulated, and they do not fall under the jurisdiction of governments or banks. Therefore, you can make Bitcoin deposits and withdrawals without any restrictions.
The main problem was not making deposits with FIAT currency, but it was the withdrawal. There were plenty of restrictions and regulations in place that prevented players from withdrawing their funds from online casinos. That is not the case with Bitcoin, as it offers a great alternative. You can transfer and withdraw your funds without going through governmental red tape.
So, if the question is, can you gamble at Bitcoin casinos in the USA, and then the short answer is yes. You can withdraw and deposit funds using Bitcoin and other Cryptocurrencies at a wide array of Bitcoin casinos. That is why online gaming sites in the USA are now offering Bitcoin and other Cryptocurrencies, as the popularity of these currencies keeps surging. That said, you should always check the regulations of your local state and understand all of the restrictions on online betting and Bitcoin just to be safe.