At BestUSCasinos.org, our team will stop at nothing to provide you with the most up to date and factual information regarding the online casino industry in the US. Not only has our team taken part in the online casino industry by playing casino games, we have also been keeping a watchful eye on the ever-changing industry for years. All of this experience and expertise has culminated in a site that is equipped with everything you need to know about online casinos in the United States. What’s more, we are constantly adding new information to keep up to date with the times. Online casino usa.
The purpose of this site is to give you a better idea as to how the online casino industry functions in the USA, because it is unlike anywhere else in the world. Along with state by state guides, we also have plenty of site and software reviews to go along with it. With all of this at your fingertips, we have given you the tools to not only learn more about real money casinos in the US, but how you can get started playing games yourself. Anything you would want to know about the best sign up bonuses and the sites that offer them are right here at your fingertips.
The Early Days of Real Money Online Casinos in US
When you talk about real money online gambling in the United States, the history does not extend too far before 2002. It was in this year that the US Federal government passed the Federal Wire Act, which made it illegal to participate in the monetary dealings with any funds that are at all related to gambling on sports. By the letter of the law, the Federal Wire Act does not make it illegal to bet on anything other than sports. In fact, the law does not even prohibit betting on sports, it merely says that it is illegal for financial institutions or anyone else to handle, transfer, or otherwise deal with any funds that will go towards or have been won from online sports betting. In effect, this law makes it nearly impossible for people to deposit at online casinos, because people nowadays can do almost nothing with money that does not involve their bank.
So, now that the Federal Wire Act passed in the US, the real money gambling atmosphere was immediately shaken to its core. Though there were still plenty of online casino options in the wake of the Federal Wire Act’s passing, the general attitude people held towards online gambling was that participating in such activities was now considered to be illegal. In some extremes, people were quite literally afraid that playing a hand of blackjack online would see the police come knocking at their door. In reality, this never has happened and is not likely to happen anytime in the foreseeable future. Adding to the general fear people have of playing real money online casino games in the United States was a Department of Justice that has consistently alluded that all types of internet gambling are illegal. Though the Federal Wire Act has no verbage stating this, the DoJ has scared an entire population into thinking twice about doing something that they are well within their right to do.
Despite the mounting fear, the industry in the United States managed to mostly stay out of the headlines for the next 4 years. Then, in 2006, a few online casino executives were arrested and prosecuted in the United States for violations in relation to the Federal Wire Act. Jay Cohen, and others, were charged under the presumption that facilitating online sports betting for players in the US is, in fact, a violation of the newly instituted Federal Wire Act. As you could have probably guessed, this sent another massive shockwave across the population of people who play casino games online.
The UIGEA and Online Casinos Today
Even worse, and also in 2006, the Unlawful Internet Gambling Enforcement Act was passed as part of a larger bill and signed into law. This particular act made it increasingly difficult for players to play real money casino games online. Though the UIGEA was brand new in 2006, it was really a more expanded upon version of 2002’s Federal Wire Act. Now, the Federal government made it wholly illegal for banking institutions to deal with internet gambling monies. In the immediate wake of the passing of UIGEA, many online casinos that previously offered their services to people in the US announced that they would be suspending these services. Now, an industry that consisted of a seemingly endless quantity of online casinos was whittled down to its bare bones. Despite the UIGEA, real money casinos for US players still existed and still existed in such a way that players never had to worry about criminal prosecution for having gambled online.
Though it seems like the US has done nothing but prosecute the online casino industry, the online casino industry has persevered time and time again. With every new piece of legislation that passes, online casinos are thinking of new ways to make their operations legal. As it stands now, there are hundreds of online casinos that people everywhere in the United States can play at. In addition, a handful of states have made it legal to gamble online within their specific borders. This is a trend that is just beginning to pick up momentum.
Statistical Analysis of Online Gambling Revenue in US
The relatively new online gambling market in the United States completed its third full year of operations in 2016. The US regulated iGaming market is comprised of three state jurisdictions where online gambling is legal at the present time (Nevada, New Jersey and Delaware). Nevada’s online gaming is restricted to online poker. Of the 3 states, New Jersey has accounted for more than 90 percent of iGaming revenue in the United States. Although online casino gaming is also permitted in Delaware, it is a considerably smaller state.
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Online Gambling Revenue Forecast in US
As you can see from the bar chart above, online gaming revenues in the United States has experienced tremendous growth since the introduction of a regulated market in 2013, reaching an all-time high of $200 million in revenue in 2016 even though it’s still shared between 3 states. For the year as a whole, iGaming revenue in 2015 was up 19.3 percent on 2014. In 2016, the organic growth witnessed in 2015 continued and online gambling revenue increased by 24.4 percent. In contrast land-based gambling revenue in the US during the same period has been flat.
The US online gambling market is expected to exceed $4 billion in revenue by 2020, growing at an impressive rate of more than 50% according to Technavio’,s latest market research study. That forecast includes all online casino and online betting. The fact that these online casino websites appeal to a younger demographic is the main reason why the online gambling market in the US is predicted to get bigger, and real-money gambling transactions in regulated iGaming markets are expected to be processed more efficiently. Additionally, other states including Pennsylvania are considering legalizing online gambling in 2017. As more states soften online gaming laws since it’s a source of tax revenue, it will further increase growth and states will partner together to improve liquidity.