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Online Casino and Land-Based Sites Deal with the Law

Whether it’s an online casino or a land-based Vegas or Tribal casino, US law is always involved. Although online casinos are illegal in the US, American online casino fans generate 80 percent of the industry’s revenue. With these types of numbers, it is clear to see why American entrepreneurs run the risk of operating online gambling sites. They do this, however, in locations such as Gibraltar or the Netherlands Antilles, where online gambling is legal.

Ruth Parasol, who runs her online casino sites from Gibraltar, can be easily compared with Steve Wynn, for understanding the financial benefits of online gambling. With Pennsylvania gaming supporters cheering on a proposal for a 5,000-slot casino from Astar Corp. and the overflowing revenues (more than $80 million) being generated by Native American tribal casinos, it seems that gambling, including online casino gambling, is everywhere and going strong.

Regardless of what type of casino is discussed, US law continues to forbid the legalization of online casino gambling. With many reasons for and against the legalization and regulation of online casino sites, this subject will continue to make headlines and occupy state and federal legislation for many years to come. With the growth in popularity of gambling, and the surge in online casinos, the fight to allow online casino sites to be legal entities within the law will only become more prevalent with time.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.