The United States has a bustling online and offline gambling market. Data suggests that millions of Americans gamble daily, and billions of dollars go into online casinos alone. This is certainly an impressive achievement considering that only seven of the 50 states have legalized online gambling fully. America is pretty strict on the iGaming market for having one of the most successful in the world. Relegating the matter to a state decision means that most of them have banned the practice for various reasons. Some may wonder what does this mean for the future of online gambling and online play in general?
The US state laws play a significant role in shaping the future of online casinos believe it or not. America’s gambling market on the internet is one of the world’s largest. A lot of online casinos are tailor-made with Americans in mind. That means that the industry could be severely crippled if a good portion of states decided to ban online gambling all-together. Which brings us to the main point of this article; how do the current laws in the U.S. shape the iGaming market globally?
Offshore Casinos Thrive
We said before that only seven of the USA’s 50 states have legalized online gambling. Does that mean that the other 43 have no access to online casinos? Not necessarily. Many of America’s states have no truly banned online gambling. Instead, they’ve prohibited a business from operating within the state’s borders. That means that there are still states with online poker access, even if that poker room is not headquartered within the state’s legal bounds. That is where offshore casinos come in.
Offshore casinos operate from outside the state limits. Their physical headquarters exist within another state, or even another country all together. American players can access these offshore casinos from various states and enjoy a slew of their favorite games, including poker. Offshore casinos don’t necessarily rely on America to function. However, the overwhelming amount of cash that Americans wager daily means that these businesses can thrive online while focusing entirely on the U.S. market.
We would still recommend that American players be careful when visiting these kinds of casinos. Some American states have outright banned online gambling. Residents are not allowed to play at online casinos of any kind. Even offshore casinos are off limits in states where the practice is outright banned. Understanding and following the laws of the state is important for your own sake if not for anybody else’s. Regardless, this is only one way in which the global iGaming market is shaped by US policies. Offshore casinos get to thrive due to the ban on gambling operations in various states. These same offshore casinos appeal to players from all over the world.
Cryptocurrency and Gambling
The success of the crypto market is one of the things that people have been debating for decades. Many saw the market as a passing fad when Bitcoin first hit the scenes. A lot has changed almost two decades later. Crypto is now the third most popular trading market in the world. It is behind only Forex and the stock market. All three of them are hugely shaped by American laws and policies. The difference is that global online casinos have embraced cryptocurrency as a viable payment method. Some have even integrated the digital coin entirely, becoming crypto casinos in all but name. But, American state laws may change the way crypto is used in the future.
America is home to a lot of crypto traders. The decentralized nature of the currency means that governments are both fascinated and frightened. Colorado’s state government seems to be in the former camp. They became the first and only state to accept crypto-based tax payments in 2022. This meant that a lot of Colorado’s residents became more interested in cryptocurrency. Some believe that Colorado is the best state for crypto right now. Others would argue that that title goes to either Florida or Wyoming. Both of these states have pretty lax crypto policies. Their residents can access offshore crypto casinos without much hassle.
On the other hand, there are also some American states that are looking to regulate the market and ban it from public use. State agencies are prohibited from accepting Bitcoin and other cryptos in the state of Connecticut. Should the states remain divided on the issue, the future crypto gambling market will not change. However, if the scale tips to one side or the other it could mean massive shifts in the market ahead. That would not only affect crypto gambling but the market as a whole. Bitcoin is already undergoing some shifts because of the use of AI by miners. Should a majority of states in one of the biggest countries in the world embrace crypto all-together, the market would experience immense new highs. Thus crypto gambling would also grow in popularity worldwide.
Closing Remarks
America has a huge impact on global policy whether we like to admit it or not. It comes with being one of the world’s leading superpowers. The American government influences all from the future of online gambling to serious economic and social norms. Even just state legislation can have a dire impact on internet-based entertainment. That is why it is important for fans of online poker and cryptocurrency to stay informed on the matter.