5 Online Betting Laws Every Gambler Needs to Know
Many people make the mistake of thinking that online gambling is pretty much the same thing as land-based casinos. However, there are a lot of characteristics these two concepts simply don’t share. Just think about it, you are entering a casino in your city, and you are immediately good to go.
That’s why many people are not used to facing some obstacles with other forms of gambling.
But when you are entering an online casino that is not registered in your country, you need to know what is the regulation in that particular country.
But there is one thing that both of these concepts share to a certain percentage. We are talking about taxation. Sure, you will not be obligated to pay any taxes when you play at online casinos that are registered in countries that don’t have any kind of regulation.
For those who don’t know what countries we are talking about, these are Malta, San Marino, Luxembourg, and the UK’s territory, the Isle of Man. But it needs to be said that this is not the only thing you need to pay attention to. Therefore, we would like to provide you a couple of online betting laws every gambler needs to be aware of. Without further ado, let’s take a look at some of these.
Know Where it is Legal
First, you will need to know what are the countries where you can play legally. We can see that many gamblers make the mistake of thinking that they can play whenever they want, without having to oblige to some regulations. Today, there are only a handful of countries where it is completely legal. In most cases, you will see that online gambling still operates in something that can be described as a shade of gray.
But when you want to know for certain, you can play at sites registered in the UK, Germany, Japan, France, and Spain. All of these have their regulations and you will need to be fully aware of them before you can play legally. In case you want to take a look at some credible Japanese gambling sites, you should take a look at Casinonana.
All Forms are Banned
Now that you know where you can play legally, it is important to know where you can do it online, but when land-based gambling is completely banned. As you may know, in a wide array of different countries where Islam is the predominant religion gambling is not allowed. However, we can see that some of them don’t approve of online gambling officially, but you can find some of these sites inside them.
The best example is UAE, or United Arab Emirates. At the same time, we can see that Brunei is a country where all forms of gambling are completely banned. On the other side, we have countries like North Korea, which bans gambling for its citizens but allows tourists to participate in these during some tours. There is one land-based casino in the country in Pyongyang. Online gambling is banned in the country.
When you play at sites that are completely legalized, you will have to pay a certain percentage of your winnings for taxes. Sure, we know that nobody is a fan of this regulation, but that doesn’t mean that it will go away. If you ignore it, you can face a lot of problems. In some sites, this percentage will be taken down from the money you have withdrawn into your account.
In some other cases, you will be required to pay it by yourself by sending that amount to a certain account. As you can see, it is an absolute must to read the segment in terms and conditions you can find on a website where you are playing. Otherwise, you can come across some unpleasantries, which you surely don’t want to experience.
Not All US States Legalized it
If your native state legalized online betting that doesn’t mean that other ones have done the same. When you take a look at a map of those who have done that and those who didn’t you will see that the number of those who didn’t do it is still pretty high. However, we can see that some tendencies indicate that we might see it completely legalized sooner than we think.
About a dozen of states have done it. Plus, a couple of them have recently passed a bill about legalization. The number of states where this bill is still considered is probably the highest. Last but not least, there are a couple of those where the bill for legalization isn’t yet considered. We are talking about Florida, Utah, Wyoming, North Dakota, and some other states.
Crypto Sports Betting Regulation
Last but not least, we would like to talk about crypto sports betting. Sure, this is a newly-emerged trend and the highest percentage of sites that use it is not regulated by any set of laws. The biggest players on the cryptocurrency market, Bitcoin and Ethereum. Plus, we can see that online casinos have played a big role in the growth of their value and they are currently on a high level.
But it needs to be said that this impact will be even higher when these are fully adopted. The reason is that the shades of gray we’ve mentioned still represent the highest percentage.
Therefore, it is not uncommon to face some obstacles and problems when you start betting on a crypto gambling site. Therefore, we would like to say that playing only at sites can provide you with high-detailed regulations about how you can use cryptos to participate in these games.
The Bottom Line
As you can see, there are a lot of different aspects you need to be aware of before you are ready to participate in online gambling. Here, you can find five tips that will make your search for a perfect place for this activity that will not have any boundaries or God forbid, problems. We are sure you will find these interesting.