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Foreign Countries and Online Casino Licensing

Online casino sites assert that they are legal entities and enterprises because they hold a license in one or more jurisdictions where online gambling is legal. According to the law, however, this argument simply doesn’t hold water. Online casinos all across the web take bets and money from players who are legally not allowed to gamble in their respective countries. But because the online casino is located outside of these countries’ borders, and many times overseas, the gambling practices of these players enter a grey area.

Unlike the licensing process in Nevada and New Jersey, the system in which online casino sites obtain licenses from foreign countries is much more lax. This is the main reason many online casino websites, even those who have been found guilty of fraud, have had a very easy time of acquiring these licenses. If the process was similar to that of New Jersey and Nevada, there might not be as many online casino sites on the Internet as there are today.

Even with all of these facts, the issue still remains that the central problem of regarding the legalization of online casino sites is not the licenses they hold or the players they host, but rather the law itself. Because the Internet transcends all physical borders, it is very difficult to decide how, when and why to prosecute an online casino player who has gambled from home to an overseas online gambling site. Until the respective governments, which as of yet do not permit online gambling, decide once and for all, whether or not to legalize online casinos, many new licenses and much more gray area will be prevalent in the months to come.

OCA News Editor

Jenny McKinnley is OCAs 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.

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