American Casinos Take in the Year’s Biggest Win Worldwide
The results are in for gambling revenues the world over during 2016 and the US has taken the cake with $116 billion in revenues. While it’s great news for casinos, bookmakers and poker rooms, it’s a poor showing for US gamblers, who ponied up enough money to create that substantial sum. As much as $385 billion was said to have been collected as pure profit by gaming industries globally. Online gambling alone accounted for 11% of that figure, with that percentage expected to rise in the coming years.
U.K.-based H2 Gambling Capital (H2G), a gambling and betting consultancy, provided the data which was recently published by The Economist.
Brick and mortar casinos made up the bulk of popular gambling services utilized by prospective gamblers, with lotteries coming in at a close second. Online gaming sites and non-casino gambling followed shortly after on the chart provided by H2G.
The evidence was said to artfully showcase the enormous potential for gambling institutions in the United States, which currently has gambling restricted to a few select locations throughout the country as well as Indian casinos located on reservation lands.
The American Gaming association (AGA) has estimated that Super Bowl LI alone took in $4.7 billion in wagers, 97% of which it believes to have been made illegally. $154 billion was estimated by the AGA to have been placed on all sporting events nationwide in 2016, with the most common method of wagering being entertained via bookies and offshore, illegal web sites.
According to current US laws on the books, The Professional and Amateur Sports Protection Act (PASPA) provides that Nevada is the only location in the nation where sports betting may legally be done.
Online Gambling Laws in the US
The Unlawful Internet Gambling Enforcement Act of 2006 (UIEGA) is the biggest hurdle of online gambling activity in the states, and at over 10 years old it is considered by many to be antiquated.
While the UIEGA does not prohibit online gambling specifically, it prohibits online gambling service providers from being complicit in online financial transactions.
At this point in time, only New Jersey, Nevada, and Delaware allow online gambling activity within the US.
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