The history of online gambling dates back to the year 1994 when gambling laws authorized local companies to offer their gaming services over the Internet. Ever since, the online gambling industry has expanded all over the world. Online gambling activity produces huge sums of revenues, which are taxable by law in some countries.
Online casinos provide convenience to their customers by allowing them to play while seated on their comfy couch at home. However, there are country-specific laws that legitimize, and some that prohibit, the setting up of gambling websites on the Internet. As the Internet transcends all borders, players can still access websites that are operational in countries where online casinos are legalized.
There are countless online casinos available today, and with the vast amounts of funds generated from them, the governments have realized that they can regulate the online gambling industry and earn fiscal revenues by taxing these websites.
Countries Where Online Casinos Are Legalized
A recently held research reveals that 39 countries impose a complete ban on online casinos, 32 countries have put on a local ban on operating casino websites, 61 countries give license to online casino companies allowing them to operate, and 93 countries impose neither any restriction nor do they give permits to online casinos.
Countries like the UK, Italy, Denmark, France, Australia, Spain, Belgium, and Gibraltar have regulated their systems in a way that requires online casinos to obtain a license, to pay tax according to the tax scheme, and to fulfill audit requirements.
Some countries like Norway and Portugal allow online casinos with a government monopoly. Other countries do not put a ban on online casinos but they do restrict you by only allowing you to gamble with a license holder online casino. Greece is one example of one of these countries.
Moreover, there are countries like the US and Germany that impose federal restrictions on online casinos, but some state laws permit access to online casinos to their citizens. Nevada and New Jersey are examples of states with a federal ban where online casinos are still legal.
The Interactive Gambling Act, which was passed in Australia, protects its citizens from the dangerous impacts on online gambling. According to the act, it is an offense to offer gambling services to a customer based in Australia, but it is not an offense for an Australian to play online casino games like poker.
In Canada, there is no ban on online casinos, but any sort of gambling that is not licensed by their provincial government is restricted. There is no criminal prosecution for online casino companies. However, in recent years, most provinces have allowed casinos as they see it as a great way to ear revenues, and so there is plenty to offer to a casino lover. In fact, it would be a good idea to go and read Canadian casino reviews first before you do try your hands at one of them – since there are so many!
France has regulated their laws concerning online gambling. It imposes a tax on online casinos that operate there. As per the new laws, they will give licenses to the numerous websites rather than putting a ban on them to ensure public and social order.
Rules and regulations on online casinos vary from country to country. There are countries that have detailed gambling legislation but remain silent about online casinos. Is it fair? What is your opinion on the matter?