The term “gambling” can be defined as betting something of value on a random event. There are three main elements that make up gambling, the prize, the risk and the strategy.
In the US, online casinos are legally allowed to offer games of chance for money. However, a number of rogue operators continue to operate without the necessary licenses. In addition, the federal government remains hostile towards Internet gaming.
One of the main reasons for this is the fact that the United States Department of Justice has attempted to interpret the Interstate Wire Act as applying to all forms of Internet gambling. This attempt failed.
Since the Internet became available, online gambling has grown in popularity. In the late 1990s, approximately 200 gambling websites existed. Some of the largest names were Partypoker, PokerStars and Full Tilt.
In the early 2000s, the Unlawful Internet Gaming Enforcement Act (UIGEA) was proposed in the U.S. Senate. The bill was intended to prohibit online gambling for US citizens.
As the iGaming industry continues to grow, regulation is becoming more strict. A key step in this direction is to have an independent auditor test the software before it hits the market.
For the most part, casinos are still required to run thorough checks on customers. Failure to do so can result in a seven-figure fine. If you’re concerned about security, check to see if an online casino uses industry-standard 128-bit encryption to protect your information.