Online Sports Betting

Posted by Nick Niesen on October 26th, 2010

After the Unlawful Internet Gambling Enforcement Act of 2005 (H.R.4777) was amended with the Internet Gambling Prohibition and Enforcement Act (H.R.4411) passed to Senate on July 13, 2006 by the House, there as been too much speculation about online sports betting.

Commonly referred as the Leach-Goodlatte Act after Congressmen who introduced those anti-gambling initiatives, Jim Leach (R-Iowa) and Bob Goodlatte (R-Virginia.), many questions about its viability have been asked so far. Preventing the use of some payment instruments and fund transfers for unlawful Internet gambling has been a major concern for Congress since a while.

Since its introduction in the early 1990s, the Internet gambling industry has grown considerably, spawning a number of new careers, however, U.S. Senator Bill Frist stated that "this industry threatens to undermine the quality of life of millions of Americans by bringing an addictive behavior right into our living rooms..."

Online sports betting is in fact a way to enjoy from the comfort of your own home an activity that otherwise is only available through land-based casinos and sporting venues in states of America where gambling is legal. Sports books operators consider that banning gambling is not a solution.

While roulette and card games such as poker, blackjack and bridge can be truly addictive, online sports betting is a territory where small-stakes players go for up to $10 tournaments, which may not be considered an addictive behavior. Online sports books are more likely a sort of therapy to relax after a stressful working day.

Nevertheless, several professional sports organizations, such as the NBA, NHL and the NFL didn't see the things from the same approach. Professional sports teams joined to the claim of getting banned online sports betting in the United States, arguing that college students are vulnerable to this costly addiction, specially those who are enrolled in a college sports team.

Most of the actual Internet sports books operate from offshore locations where gambling is not illegal, such as occurs in many Central American, Caribbean and European countries. Even though, a large number of Sports betting operators are American with online activities aimed to American bettors.

Online sports betting comprises diverse sporting activities such as football, basketball, baseball and soccer, accepting U.S. currency and the uncertainty of Internet Gambling banning in America floating in the air.

Only time will tell what will happen in the online sports betting industry due to the recent legislation passed here in the United States. While some have already closed their doors to U.S. customers, others are waiting to find a loophole to allow U.S. citizens to continue gambling online.