Overall, online gambling has had a 43% increase since April 2021. Some European countries saw these increases as an opportunity to reform their online gambling laws and relax their online gambling regulation. For instance, prus changed its laws and licensed online casinos. Likewise, Belize amended its laws and made online gambling acceptable. And, Nicaragua legalized online gambling and certified it as a regulated activity by the Department of Public Safety. This means these European countries have joined the bandwagon of legalizing online gambling.
In the United States, however, online gambling companies still do not have permission from Congress to operate out of the country. The U.S. Conference of Directors of Consumer Protection has urged the U.S. Department of Justice and the Federal Trade Commission to work with local and state officials to develop legislation that would authorize online casinos. The states already have enacted laws authorizing online casinos but the federal government is blocking them from opening. This means there are legal gray areas where the traditional brick and mortar casino and mobile gambling market overlap. This gray area includes gaming taxes, which online gambling companies would have to pay if they were to open in these states.
One way that the online gambling market has tapped into the global market is through online gaming websites, also referred to as web sites. These gambling websites allow people in different countries to play gambling games, including poker, blackjack, roulette, baccarat and others. The players have to be residents of the country where they want to play or they will be charged a corresponding gaming fee in their own currency. The players can play for real money or they can wager real money through credit cards or electronic payment accounts. While the global market for online gambling has not yet reached U.S. shores, it has surpassed the U.S. market in terms of visitors.
In the U.S., the online gambling industry is flourishing at about three times the rate it did a decade ago. One reason for this growth is the global market for online gambling companies revenue. Because the online gambling industry is based in the U.S., it has made an effort to advertise in English and offer its services to people across the globe. This has increased the amount of revenue available from U.S. gambling establishments. Other reasons include the relative lack of regulation of the U.S. internet and the fact that people from other countries to travel to the U.S. to gamble.
If the U.S. begins opening up its online gambling space to offshore companies, there will be fewer people from within the U.S. that can access it. Without the same level of regulation and oversight as our own laws give us, this will mean an increase in crime and an increase in revenue for organized crime. As criminals are able to use the online gambling space to do more illegal activities, the need to regulate these sites becomes even more important.
There are already many world leaders in this industry. The World Professional Billiard Association (WPA) was founded in 2021 as an organization to improve the quality of the game in international gambling. The US-based World Lottery Commission (WLS) was founded in 2021. Both these organizations are already well established, which makes expanding their territories or expanding their member's countries easier. But if the U.S. begins allowing companies that are not located within its borders to operate on its soil, then this opens the door for cyber-offense, which is a whole different kettle of fish.
Gambling is illegal in most countries, but this does not mean you cannot have gambling companies that are based in different nations open an account with the same company. If an illegal activity is occurring on one of these accounts, the host country (the country where the gambling is taking place) can press charges and those companies will be forced to close their operations. As previously mentioned, this can lead to a global pandemic, which we are all very well aware of.
Just like the U.S. stock market, the Nasdaq is open twenty-four hours a day and this means investors can trade even when there is no business going on in Las Vegas. In order for an online gambling company to make it on the Nasdaq, it has to be established as a legitimate business. This means it has to be properly regulated, has a professional licensed executive management team, and has a sound financial model and accounting practices. In addition to having these elements, a company should also have a website and be listed on the Nasdaq. So, although it may not be possible to take advantage of the over the counter market during your first few months on the Nasdaq, holding onto your stock ticker throughout the process is going to be crucial.