When the first online casino started its operation way back in 1995, there were no clear online casino laws established. But as the online gamblgin industry grew and became complex, there was felt a need of online casino laws and regulations. As US has a strict law against gambling, most online casinos operate outside of the United States so as to avoid the laws. Although there are clear laws and regulations relating to sports betting across state lines, there are no specific laws prohibiting gambling of any other type.
As online gambling occurs in a virtual world with no geographical boundaries, the online casino laws and rules are set by the physical country boundaries. Most European countries and Caribbean Nations have legalized online gambling. In US, any online casino operating without a license is will be deemed illegal. However the rules may vary from state to state and currently there are no states awarding online gaming licenses.
Recently, complaints were made to the World Trade Organization by Antigua and Barbuda Government against US Government taking actions against online gambling. Although they won the opening ruling but the WTO partially reversed such ruling in 2005. The economics and monetary benefits of online casinos are simply astounding as compared to the land-based casinos. Therefore there is a need of strict online casino laws all over world wide. Many people believe that such regulation will benefit the workforce.
Another debate that is storming the online gambling scene is the propensity of frauds happening. The players need to be sure that they are playing fair games and get honest payouts. Recently the incidents of money laundering and credit cards getting misused are on the rise. The issue of taxations still remains to be solved. Therefore a uniform set of online casino laws can handle such issues to a great extent and keep them under check.