National Casino Gambling Revenue Down - 9th May 2010
gross gambling revenues fell to $30.7 billion in 2009,
a decrease of 5.5 percent from 2008.
marked the second consecutive year of declining casino
revenues due to the recession and consumers' cutting
back on discretionary and leisure spending, according
to the Philadelphia Inquirer.
City fared the worst. It saw revenue drop 13.3 percent.
including Las Vegas, was down 10.4 percent.
past year was tough for all Americans, and it was
tough for our business as well," said Frank J.
Fahrenkopf Jr., president and CEO of the gaming association.
"Nearly every industry that depends on consumer
spending to succeed has been negatively impacted by
may seem difficult but it is important that all citizens
across the world stay updated with Internet Betting
laws. Below you will find what we understand as the
laws to online betting in certain areas of the world.
Internet Betting Laws
The United States of America has the most ambiguous
online casino laws in the world. They have passed
laws to ban banks from allowing transactions that
are deemed illegal, but no one has any idea what the
United States considers legal or illegal. Currently,
all US citizens are advised to check with local laws
before gambling online. Even the online casinos aren't
sure if you should be allowed to bet at their site.
Some companies don't allow US players, others allow
some US players, and some could care less where a
player is from.
Internet Casino Laws
The UK is the first major country to completely legalize
and regulate online gambling. The Gambling Act of
2005 was passed while Prime Minister Tony Blair was
in office. Blair had a flair for expanding gambling,
but when Gordon Brown took over as Prime Minister
in the UK he provided a tax structure that was so
high that most online casino companies were not urged
to relocate to England. Today, all web branded casinos
that are in a UK approved jurisdiction are legal for
UK citizens to play at.
Online Betting Laws
As the world gets deeper into the 21st century and
the Internet becomes a more common cultural tool more
and more countries are realizing the reality that
is Internet gambling. Currently, Spain, Italy, Germany
and other countries have moved to legalize and regulate
the industry, while few still look to protect their
homeland gaming monopolies. It is extremely important
to check all local, state, and federal laws before
participating in any online gambling activities.