Who controls gambling in the US?
Every punter knows that this market is one of the strictest worldwide. Why is the US that strict with its players; we don’t know for sure. What we do know is how the Government ensures everything is controlled and everybody obeys the rules. The recipe is simple: you need a strong law and someone to enforce it.
Why was the 2004 Gambling Act a must?
Enforced in September 2007, the aim of the act was to improve and come up with more complex regulations. In 2005, the land-based casinos were already popular and established. The industry needed a law to ensure that every aspect of the industry was legalised. The Gambling Act of 2005 had three major objectives:
- to ensure that no gambling was associated with crime;
- to enhance justice and fairness when gambling;
- to protect the youth and vulnerable people from getting any negative impacts resulting from gambling.
That was the starting point. After 2005, the online industry started to develop, and the law brought in the aspect of online casinos and sports betting websites. However, during the inception and development of the Gambling Acts, online casinos had not been foreseen or projected. As such, these laws need to be revised to accommodate online casinos.
2014 – The first adjustments
In 2014, another Gambling Act was introduced and majorly covered licensing and advertising. Before this act, gambling sites and operators outside Great Britain could legally advertise to US gamblers as long as they were in the EEA on in the specified jurisdictions. The Gambling Act of 2014 brought more restrictions and rules to licensing and advertising.
What are the main conditions?
The two primary requirements target both players and operators:
- for any provider to operate or advertise their services in the US, they had to hold one or more licences from the US Gambling Commission;
- US gamblers were charged with a gambling duty of 15% gross gambling profits.
2018 – New measures for casino operators
After a series of consultations with the industry stakeholders, it was decided that it was a time of new additions to the law. In this new act, the US Gambling Commission brought in more requirements for casinos to fulfil to begin rendering their services in the US.
- All casinos were required to equip their website with better tools and software to monitor their gambling practices.
- Gambling sites must allow players quick access to their accounts quickly.
- Make available their gambling and transaction histories for the particular periods (going to a minimum of twelve months).
- Online casinos must ensure players can see their net deposits and winnings. Players should also be able to impose limits on their spending to avoid overindulgence in gambling activities.
In addition to these, casinos must ensure responsible gambling measures. This refers to ways to limit one’s spending and the option to self-exclude when necessary.
A betting or gambling site must fulfil these requirements before it can operate under the US Gambling Commission.
The US Gambling Commission and how it operates
The Act of 2005 fostered the US Gambling Commission’s formation, a public board sponsored by the United States Government and the Department for Digital, Culture, Media, and Sports. It was a replacement for the Gaming Board for Great Britain that had been previously established in 1968.
Why was it founded?
The USGC was created to oversee that all the gambling activities in the country were legal. It was also to cover the online and physical gambling sites. By this time, the lottery was also a gambling activity hence included in the list; the body also regulated the National Lottery.
Today, the commission holds a high power and mandate to verify that all the gambling providers comply with all the requirements and codes, as stated in the Gambling Act. Additionally, the body also performs investigations on whether offences have been committed and to what extent. Afterwards, the body then pursues legal actions against any offences found. They can also grant, refuse, and revoke the licences.
After further assessments, the body was found to be one of the most beneficial commissions to the gamblers. Today, it has even gone further to regulating and licensing casinos and betting sites from all over the world. It is one of the most reputable and trusted gambling regulators.
The future of gambling in the US
One of the biggest markets, US gambling recorded lots of profits over the years. In 2018, the profits grew from $8.4 billion to $14.4 billion. In less than a decade, the numbers had doubled, which means that huge deals of people gamble in the US.
The gambling industry also happens to be one of Britain’s largest employers, employing over 100,000 people directly and indirectly. According to research, it has been discovered that the rise in gamblers in the country can be linked to the development of online and mobile usage. You can now access your favourite online casino at the convenience of your home. Most of them have now incorporated mobile apps and optimised their browsers to accommodate mobile users. You can comfortably gamble on the move. Even better, there is a lot of optimism about the future of gambling in the US, just like in the other parts of the world. There is an increase in the demand for high-quality gambling services which the US strongly founds on. With the US Gambling Commission, operators have to stay on their toes to comply with the set requirements and codes.
Does US gambling have an influence worldwide?
The US has had a magnitude of impact on the world’s gambling industry as it houses the most reputable gambling regulatory authority. Most gamblers trust the body as it has no-nonsense policies for bettors and roots for the best conditions for gamblers worldwide. Technology has positively influenced the gambling industry and will continue to do so in future. Today, you can already witness the increment of crypto and block-chain gambling sites. As such, it is expected that gambling will get safer, bigger, and even cheaper. Other features that have been incorporated into the gambling scene include the Augmented Reality (AR) and the Virtual Reality (VR) gambling to make your gambling even more profitable.