Online Gambling In The U.S. Gaining Momentum With New Jersey Launch

It has been two years since U.S. online gambling world was rocked in a good way with the Justice Department reviewing their stance on the Wire Act of 1961. Until then online gambling was illegal but the new legal status allows individual states to pursue online gambling other than sports betting.

There is a mood of optimism and momentum in the U.S. as New Jersey becomes the third U.S. state to launch online gambling. What seemed unlikely only a few years ago has become a reality. Besides the three states of Nevada, Delaware and New Jersey there are many others waiting in line to become part of a multi-billion dollar industry.

While currently it is only legal to gamble online within the individual state borders, there are talks underway to create interstate gaming agreements which would allow a wider pool of players.

The biggest question being asked by all is if and when the federal government will decide to create some sort of uniform online gambling policy which would make things a lot easier to regulate. Supporters of legal online gambling are quick to point out the fact that millions are being lost to illegal offshore operators who do not pay a cent in tax. While it is technically illegal to gamble online on the U.S. via offshore operators, this can be done by using proxy servers to mask your location.

The financial rewards on offer in the U.S. online gambling market are huge with New Jersey alone estimated to be worth anything from $250 million to $1.2 billion. Currently it seems that the momentum favors the gambling supporters as it would be senseless to turn the clock back to a time when no U.S. state could enjoy tax revenues from American  citizens who are gambling online despite it being illegal.

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